Jeffrey K. Skilling, the former CEO of Enron faces judgment day today for his role in the massive corporate fraud that brought the behemoth down. Many expect that the 52-year-old Skilling will get a sentence so long that it would virtually mean spending the rest of his life behind bars. Legal experts believe that it won’t be less than 25 years behind bars matching ex WorldCom boss Bernard J. Ebbers who got the same, which was the longest for a white-collar criminal.
Federal guidelines in the US on corporate fraud has become extremely tough and is almost at par with violent crime following the debacle of high profile companies like Enron and WorldCom due to corporate fraud making tens of thousands of shareholders lose fortunes.
It’s a matter of a few hours only before we know whether Skilling’s sentence will break Bernard J Ebber’s record. Before Skilling, former Enron CFO Andrew S. Fastow got a six-year sentence, while Kenneth Lay, the Enron chairman died before being convicted.
News: NY Times
