Disgraced Enron CEO Appeals his 24 Year Sentence (SOX)

Remember CEO Jeff Skilling? Who can forget what he did with the Enron scnadal.  He is credited for being the most disgraced CEO.  We can also credit him as the catalyst that led to Sarbanes-Oxley. As a refresher - Skilling was found guilty of 19 counts of fraud and sentenced to 24 years in prison after his 2006 trial.   The big news on him today is the point that he may go free or get a substantial reduction in his sentence. 

 

Financial Week reports that a three-judge panel, based in the big-easy New Orleans, is expected to rule on his appeal.  Statement from Financial Week: "Surprisingly, some very prominent minds believe Mr. Skilling has a good shot at winning his appeal, or at least seeing a number of the 19 counts in the conviction overturned."  Letting him off the hook would send a bad message and quite honestly he needs to pay as other did when they lost thousands and millions in shareholder value. To let him go free would be tragic in my view - we will keep you posted.