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Skilling Gets 24 + Years
Not surprisingly, Jeff Skilling received a sentence in excess of 24 years in prison (292 months). (see Wall Street Jrl here) Surprisingly, he will not be allowed to remain free on bail pending the appeal, although he can remain free until such time as the Bureau Prisons determines his new residence and he has to…
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Background on Skilling
Jeff Skilling’s Forthcoming Sentence & The Role of Cooperation here The Skilling Sentence here Skilling Takes Another Shot at Overturning the Guilty Verdict here More on Fastow here What the Lay/Skilling Jury Heard from Fastow here Fastow Receives a Six Year Sentence here Fastow to Be Sentenced this Week here Joint and Several Liability and…
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Jeff Skilling’s Forthcoming Sentence & The Role of Cooperation
With the Skilling sentence set for Monday, all eyes are clearly focused on the possibility that this sentence will be in double digits. The real question is whether it should be. Co-blogger Peter Henning focuses on the issues surrounding this case (here), but lets also look at equity in sentencing and the role of cooperation.…
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The Skilling Sentencing
The conclusion of the District Court phase of the prosecution of Jeffrey Skilling should come with the sentencing scheduled before U.S. District Judge Sim Lake on Monday, October 23. The original sentencing date was September 11, and the Judge rather grudgingly granted a defense motion for a postponement. With the end of the highest profile…
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Heads I Win, Tails I Win More
Dr. William McGuire, the retiring CEO of health insurer UnitedHealth Group, Inc., is making quite a name for himself in the field of options back-dating and excessive executive pay. His stock options, even after a repricing to eliminate the effects of back-dating, will still be worth over a billion dollars, at least as long as…
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More Campaign Tomfoolery
A letter sent to 14,000 Democrat voters in Orange County warned that if they were immigrants and tried to vote they could be jailed and deported. Viewed as an attempt at voter intimidation, the letter turns out to have come from the campaign office Tan Nguyen, who is challenging incumbent Loretta Sanchez for a House…
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When Campaign Tricks Turn Into Crimes
Colorado gubernatorial candidate Congressman Bob Beauprez’s campaign may be in a bit of hot water, and a federal employee could be subject to prosecution, because of an improper search of the federal National Crime Information Center (NCIC) database. Representative Beauprez aired a commercial criticizing his opponent, Bill Ritter, for a crime committed by an illegal…
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The SEC Zeros in on Delphi
A number of former Delphi Corp. executives are in line to be sued by the SEC for securities fraud related to accounting problems at the company, according to a Detroit News story (here). Once the largest auto supplier after its spin-off from General Motors in 1999, Delphi filed for bankruptcy in October 2005, and its…
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Throwing All the Lawyers Into the Grand Jury
A New York Times article (here) discusses the direction of the government’s ongoing investigation of Anthony Pellicano, the so-called "PI to the Stars" who worked with, most prominently, leading Los Angeles attorney Bert Fields. Pellicano has been under indictment since February 2006 on conspiracy and wiretapping charges that allege he engaged in illegal wiretaps to…
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Hoisted on the Statute of Limitations Petard
The prosecution of Peter Davis in connection with corruption at the Springfield (Mass.) Housing Authority came to a precipitous end when U.S. District Judge Michael Ponsor dismissed the charges as barred by the statute of limitations. Davis, a retired contractor, was among thirteen defendants charged in 2004 in a 100-count indictment involving Housing Authority executives…
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