ENRON FRAUDSTER GETS EARLY RELEASE
These days, seems like the real criminals are in the "Justice" Department.
May 19: Latest Op-Eds
The man behind the firm's massive collapse is seeking to shave as much as 10 years from his prison term. That would perpetuate a culture of fraud in the boardroom. read more...
"If Jeff Skilling had been your average criminal who stole a lot of money, he probably would have served every day of his long sentence. But as the former CEO of Enron, he benefitted from the double standard that helps too many white-collar criminals.
He had the money to hire top-notch lawyers, who kept chipping away at his sentence with appeals. And finally they succeeded, getting prosecutors to agree to a reduced sentence." read more...
Interesting article. The inside scoop on the sentencing process
Prison and Class in The United States of America
I guess we are all just supposed to forget about this?
Man gets six months in jail for stealing $2 worth of candy
|REMEMBER: The same D.O.J. that hounded young Aaron to his DEATH now wants to set a corrupt corporate bigwig free, an arrogant theif who cheated hard working families out of millions of thier hard earned dollars. The D.O.J. will let a real criminal walk free while they put Aaron in his grave.|
We at KLIA are not fans of the USA's prison system. And our being supportive of Jeff Skilling serving his original sentence is not an endorsement of the system of "Justice" we have here in the United States. But certainly this is the only option for punishing these white-collar criminals at this point. In light of the DOJ failing to punish anyone in regards to the financial crash of 2007 show us that it is remarkable that a corporate crook like Jeff Skilling is being punished at all.
The fact is that the US prison system is a system of punishing poor people (especially poor people of color) harshly while letting white-collar criminals walk free. We live in a country where people convicted of minor crimes (often caught up in race-based dragnets) face harsher sentences than people who gamed our national economy for their own personal gain. Increasingly harsh sentences are being faced by people who are convicted crimes of conscience. Environmentalists and animal rights activists are put into the same category of as violent terrorists. Even when facing his original sentence, Jeff Skilling did not face the same prison-time prosecutors presented Aaron with.
The system needs to change fundamentally. We have millions of people being monitored daily by the US criminal justice system, couldn't a few be spared and put to work monitoring the actions of criminals on Wall Street?
If Skilling truly confessed to his crimes and showed a genuine remorse, then perhaps that could be taken into consideration. Perhaps if Skilling had simply returned his ill-gotten gains to those whom he stole it from, that could be taken into consideration. But instead, Skilling has been holding the money owed to his victims hostage, paying tens of millions* to his lawyers (...and his younger brother) to file appeal after appeal, thereby keeping the funds unavailable to those whom it rightfully belongs to. Instead of doing the right thing, Jeff Skilling is once again gaming the system at the expense of his victims.
* One of Skilling's worst crime was that, conspiring with insider knowledge that Enron's books were cooked and the corporation was broke, to cash out of his Enron stock when it was valued at $60 million dollars (on top of his regualr salary which peaked at $132 Million in a single year), while at the same time telling the public and Enron's employees that the corporation was in excellent financial condition. It is interesting to note what has happened to this money since his conviction. According to Wikipedia: "Skilling spent $40 million in preparation for the trial, of which at least $23 million went to his defense lawyers' retainer. Skilling's younger brother Mark is an attorney and assisted his legal team during the criminal trial." Business Insider: "The more than $40 million that Skilling will contribute to victims pales in comparison to the amount of money he has spent on legal fees. Skilling's legal defense reportedly had cost some $70 million by 2006, the year he was sentenced. He has been involved in costly appeals since then."
"All those people who lost all that money back in 2001 have the chance to object by April 17, and we’ll probably hear from a bunch of them. It’s been more than a decade, but they’re still pretty ticked.
All a new sentence means for them is delay in seeing any of the $45 million in restitution Skilling agreed to pay."
"The Justice Department wants to reduce his 24-year sentence, but the original judge, former employees and investors will have a say."
Corporate Auditor Starts Petition for Victims of ex-Enron CEO, Jeff Skilling: NO EARLY RELEASE!
Vibato, a corporate auditor, has started a petition to Judge Simeon Lake, who will make the final decision on Skilling's early release.The petition is intended to provide a platform for the public to voice their opinion about Skilling’s early release efforts. The petition results will be delivered to the Honorable Judge Simeon Lake who presided over the original sentencing and who will be presiding over Skilling’s most recent appeal.
CIO & Co-Founder of Vibato, Teresa Bockwoldt, explains the purpose of this campaign, “As internal auditors, we strongly believe in the requirement that public companies must be held accountable for providing accurate financial information to the investing public. There has been very little press about his efforts and we are hopeful this petition will bring comfort to the victims and information to the masses.”
SPINELESS, MORALLY BANKRUPT D.O.J. ABOUT TO LET ANOTHER WHITE COLLAR CRIMINAL FREE?
"On Thursday, the U.S. Justice Department sent a notice to former Enron employees, shareholders and other victims saying it was considering entering into an agreement with Mr. Skilling "to resolve certain disputed matters concerning sentencing," but didn't specify those issues."
Global Capitalism Report - Feb 2013 by Richard D. Wolff
Bloomberg reports that "Skilling, now serving a 24-year prison sentence for misleading his company’s investors, intends to seek a retrial."
If he had spent as much time trying not to be a scumbag as he sepends trying to weasel his wayout of doing his time, everthing might be okay.
The Supreme Court ruled that the instructions concerning a conspiracy charge given to the jury in Skilling's trial were not appropriate based on the honest services fraud theory, which revolves around an executive of a company breaking trust defined as "the intangible right of honest services."
Amnesty for Corporate Crooks
"What the Supreme Court has done is basically prohibit federal prosecutors from using their most common technique for prosecuting white collar crime. And the first ... benificiary ... is Jeff Skilling." -Jeffery Toobin, CNN Legal Analyst
Appeals Court Tosses Some Fraud Counts Against Schools Chief:A federal appeals court has reversed the conviction of a former Maryland school district chief for "honest-services fraud," but upheld counts involving evidence and witness tampering and obstruction of justice. Hornsby was in a romantic relationship with a saleswoman for the contractor, LeapFrog SchoolHouse, and was charged with steering the $956,000 contract to her and later covering up e-mails and other evidence. The high court said the statute was largely confined to fraudulent schemes involving bribes and kickbacks, and did not cover conflicts of interest.
Fraud convictions overturned for Philly assessor and developer: A U.S. District Court judge's decision to overturn the conviction of a former Philadelphia tax assessor who accepted $20,000 in cash is the latest fallout from a U.S. Supreme Court ruling that has undermined many public corruption cases. Former assessor James Lynch accepted money in an envelope after he'd helped a businessman get a lower tax bill. Since there was no evidence he'd asked for the cash, he wasn't charged under bribery laws. [Ed. - Emphasis Added]
Corrupt Republican Politicians Benefiting from SCOTUS Decision: Former State Senate Majority Leader Joe Bruno could be facing a new corruption trial. The 2nd Circuit Court of Appeals threw out Bruno's 2009 fraud conviction Wednesday, November 16th. The Republican had originally been accused of abusing his power by accepting millions of dollars in contracts from companies that worked with the state. [ read more... ]
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HAVE YOU SEEN THIS MAN?Americans for Equal Justice is pleased to bring you this informative website devoted to tracking the movements of the "late" Kenneth L. Lay, convicted felon and former CEO of Enron Corporation.
Coups, Revolutions, and Enron:
The Egypt Connection
"On 28 October 1997, Enron Corporation announced the entry of Frank G. Wisner Jr. onto its board of directors. His lineage is impeccable, since his father, Frank Wisner Sr., was a senior CIA official (from 1947 until his suicide in 1965) who was involved in the overthrow of Arbenz of Guatemala (1954) and Mossadeq of Iran (1953)."
The "Autopsy" Report! See it Here!
A Serious Question Regarding the "Death" of Dr. Kenneth Lay
Mrs C. wants to know:
I am curious ... the Aspen coroner is Steve Ayers ... why was Lay's "death" pronounced by some other coroner from down valley???An interesting and fair question. Would anyone like to call the Pitkin County Coroner's office and find out? Here are the numbers:
Pitkin County Coroner (Dr. Steve Ayers): (970) 920-5310The coroner who did the autopsy is Dr. Robert Kurtzman. He is the coroner of Mesa County, where Ken Lay did not die.
Pitkin County Deputy Coroners: (970) 920-5300
Mesa County Coroner (Dr. Kurtzman): 2021 N. 12th St., Grand Junction, CO
Mailing Address: PO Box 4235 Grand Junction, CO 81502
Telephone: (970) 248-0204
More Ken Lay content below, but first...
The economy is awful, taxes on the wealthy are too high, and everyone is hurting, right?
Yeah, right... In this world, economic pain is just for the little guy.
The Wisconsin Uprising
There is a War Going On.
Help Bring This Criminal to Justice.
You may send all of your reports to firstname.lastname@example.org
We here at Americans for Equal Justice feel strongly that the possibility exists that Mr. Lay, like Hitler, Elvis, and Tupac before him, has faked his own death in order to avoid any more unwanted public scrutiny. If this is true, then it is our responsibility as good Americans to bring this criminal to justice by reporting his whereabouts to the proper authorities.
We're looking for you Ken!
unique visits a week!
You Call This Justice???
From the Houston Chronicle
The "Law" is "Evolving"
Enron executives may get new trials
Almost seven years after the energy giant Enron collapsed, a series of court decisions have opened the door to new trials for some of the convicted corporate executives and threatened to hobble the Justice Department’s efforts to pursue future corporate-fraud cases.
It is almost as hard to punish a white collar criminal as it is to fill up your gas tank these days!
Here it comes: Scumbag Skilling to be set Free?!
Date for former Enron CEO's appeal set.
Lawyers for former Enron CEO Jeff Skilling and the government will soon face off once again as his side argues to erase his convictions while prosecutors seek to maintain them.
Extra Plus: A little info about the "jail" Skilling is being held at: Click HERE
Extra Extra Plus: The Blog of an insane woman who is droolingly in love with Jeff Skilling. You know, those women who write love letters to Jeffrey Dahmer and Scott Peterson, she has whatever mental illness they have: Click HERE
BREAKING NEWS: The System is Rigged.
Court declines to hear Enron investors' case.
The Supreme Court today refused to hear a last appeal from Enron investors to punish banks they allege colluded with the energy company to cook its books.
Bush Administration sides with companies
in case that could kill Enron shareholder lawsuits
Investors seeking redress from third parties accused of aiding companies to defraud shareholders suffered a blow on Wednesday when the Bush administration came down against the plaintiffs' bar and in favour of companies in a landmark case heading to the Supreme Court.
The development is also a blow for Enron investors who have sued the defunct energy company's bankers - including Merrill Lynch, Barclays and Credit Suisse – for allegedly helping Enron executives carry out the accounting fraud that eventually destroyed the company.
Ruling Rankles Enron Workers, Investors
By Carrie Johnson
Washington Post Staff Writer
Wednesday, October 18, 2006; Page D01
A federal judge in Houston yesterday wiped away the fraud and conspiracy conviction of Kenneth L. Lay, the Enron Corp. founder who died of heart disease in July, bowing to decades of legal precedent but frustrating government attempts to seize nearly $44 million from his family.
The ruling worried employees and investors who lost billions of dollars when the Houston energy-trading company filed for bankruptcy protection in December 2001. It also came more than a week after Congress recessed for the November elections without acting on a last-ditch Justice Department proposal that would have changed the law to allow prosecutors to seize millions of dollars in investments and other assets that Lay controlled.
The Judge: http://www.chron.com/content/news/photos/02/10/21/players/photo21.html
Apparently if he had only waited a week to make the following ruling, congress would have passed legislation which would allow criminal proceedings to go on after a "death"!
Prosecutors asked Lake to defer a ruling on the erasure request until October 23, 2006, the date Lay was to be sentenced, so as to give time for Congress to pass new legislation that would preserve convictions despite a defendant’s death. In this week’s filing, Lay lawyer Samuel Buffone is seeking to expedite Lake’s ruling on the grounds that Congress adjourned last Saturday with neither introduction nor passage of any such bills. If Lake approves the request, the government would be unable to seize ill-gotten cash and property through the criminal case, and would instead be forced to build a forfeiture case in civil courts.
|Background and Related Documents|
Search TruthOut.org's archive of Ken Lay and Enron related articles by clicking HERE.
(From Bloomberg News, July 5th, 2006)
July 5 (Bloomberg) -- Kenneth Lay, who built Enron Corp. into the world's largest energy trader and was convicted of the fraud that led to its collapse, died today near Aspen, Colorado. He was 64.
``Ken Lay passed away early this morning,'' his spokeswoman Kelly Kimberly said in a statement. ``The Lays have a very large family with whom we need to communicate. Out of respect for them we are not releasing any more information at this time.'' Lay's defense lawyer Mike Ramsey said through a spokeswoman that his client died ``from what appears to have been a heart attack.''
Lay and his successor as Enron's chief executive officer, Jeffrey Skilling, 52, were convicted May 25 of spearheading the fraud that plunged Enron into bankruptcy in December 2001. Lay and Skilling were scheduled to be sentenced in October. Lay, who was also convicted of bank fraud, was facing the rest of his life in federal prison.
Lay's death will complicate the government's bid to recover Lay's any ill-gotten gains, said David Irwin, a former federal prosecutor who is now a white-collar defense attorney in Towson, Maryland. Lay testified at trial that he was broke, Irwin said. The government has said that it believes he still had more than $40 million left.
``Prior to his death, the government could just say: `Hand over $40 million,''' Irwin said. ``Prosecutors are now going to have to show that individual assets they want to seize were bought with funds illegally received from Enron. It's going to be a lot more work for them now.''
The government will have to go after Mr. Lay's estate to see if there's anything recoverable, Irwin said. Shareholders with lawsuits against Lay face the same challenge, he said.
``The shareholders will still try to get a judgment against Mr. Lay's estate and then track down assets to enforce the judgment,'' he said.
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The Jayhawk says: "FYI - Ken Lay attended the University of Missouri."