In 2006, former CEO of Enron Jeffrey Skilling was convicted of 19 felony charges related to his role in the events that lead to the 2001 financial collapse of the corporation. He was sentenced to 24 years in federal prison, where he currently resides.
Skilling appealed the decision, claiming juror bias and prosecutorial misconduct.The New York Times: Appeals Court Upholds Enron Convictions (January 6, 2009) In January 2009, the U.S. Court of Appeals in New Orleans upheld Skilling's conviction, but ordered a trial court to resentence him because the lower court's judge misinterpreted federal sentencing guidelines.Bloomberg.com: Skilling’s Conviction Upheld, Resentencing Ordered (January 6, 2009) Chron.com: Court Upholds Enron CEO's Conviction, Order Resentencing (January 6, 2008) In May of 2009, with his resentencing still pending, Skilling filed an appeal for the U.S. Supreme Court to overturn his conviction, claiming that his "demonization" by the media had made a fair trial impossible.CNN.com: Former Enron CEO files high court appeal (May 12, 2009)
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Fraudulent accounting and insider trading led to the 2001 bankruptcy of Enron, which was based in Houston, Texas.Bloomberg.com: Skilling’s Conviction Upheld, Resentencing Ordered (January 6, 2009)
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The bankruptcy led to the loss of over 5,000 jobs and $1 billion in employees retirement fundsBloomberg.com: Skilling’s Conviction Upheld, Resentencing Ordered (January 6, 2009)
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Convicted on 19 counts of conspiracy, fraud, insider trading and lying to auditorsThe New York Times: Appeals Court Upholds Enron Convictions (January 6, 2009)
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