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December 21, 2005

Government arguing for 15+ years for Jamie Olis

Two months ago, as discussed here and here, the Fifth Circuit overturned the  24-year federal sentence of former Dynegy executive Jamie Olis.  Resentencing is scheduled for January 5th, and yesterday the government filed a brief recommending that Olis still be sentenced to more than 15 years in prison.  According to this Houston Chronicle piece, the government "lowered its estimated loss to between $20 million and $50 million in its brief, which called for Olis to be sentenced to at least 188 months."

Additional press coverage of the government's new sentencing calculation can be found in this AP story and this CFO.com story.  If I can get my hands on the government's filing, which should be very interesting reading, I will be sure to post it.

UPDATE:  I see here that Tom Kirkendall calls the government's new sentencing recommendation for Olis "an over-the-top and spiteful request."  Also, Peter Henning here rightly notes that "whether the district court will accept that figure remains to be seen, and the case illustrates the key role that the loss calculation plays under the Guidelines for fraud cases."

December 21, 2005 at 05:01 PM | Permalink

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