May 25, 2006
Now Enron prosecution is a sentencing (and Booker) story...
As detailed in this AP report, "[f]ormer Enron Corp. chiefs Kenneth Lay and Jeffrey Skilling were convicted Thursday of conspiracy to commit securities and wire fraud.... Lay was convicted on all six counts against him in the trial with Skilling. Skilling was convicted on 19 of the 28 counts against and acquitted on the remaining nine." This means, of course, attention now should turn to how Lay and Skilling will be sentenced in the post-Booker world.
I am quite pleased that Skilling was acquitted on some charges, because his sentencing should shine a bright spotlight on the realities of sentencing based on "acquitted conduct" within the federal sentencing system. As knowledgeable readers realize, Skilling's acquittal on some charges will become largely irrelevant if and when the prosecutors argue that his guideline sentence reflect even acquitted conduct. This CNN report states that "Lay and Skilling could face 20 to 30 years in prison" and reports that sentencing "was set for the week of Sept. 11."
How Appealing has some links to media coverage here, and I'll update with links to other bloggers later today.
May 25, 2006 at 12:30 PM | Permalink
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I would like to recommend Conspiracy of Fools by Kurt Eichenwald, as supplemental reading to the guidelines.
Posted by: Stanley Feldman | May 25, 2006 2:33:29 PM