Two notorious scammers on a grand scale are in the criminal law news today.
The Fifth Circuit has affirmed the conviction of former Enron CEO Jeff Skilling, rejecting numerous contentions in a long opinion. However, the court vacated the sentence and remanded for resentencing. The appellate court found that the trial court erred in enhancing the sentence for "substantially jeopardizing the safety and soundness of a 'financial institution' pursuant to U.S.S.G. ยง 2F1.1(b)(8)(A) (2000)." Enron's savings plan and employee stock ownership plan were not "financial institutions" for the purpose of this sentencing guideline.
In other action, NY AUSA Marc Litt wants Ponzi scammer Bernard Madoff to go to jail, go directly to jail, so he can't disperse any more of his assets. Larry Neumeister has this story for AP. Chad Bray, Amir Efrati and Kara Scannell have this story in the WSJ.
The Fifth Circuit has affirmed the conviction of former Enron CEO Jeff Skilling, rejecting numerous contentions in a long opinion. However, the court vacated the sentence and remanded for resentencing. The appellate court found that the trial court erred in enhancing the sentence for "substantially jeopardizing the safety and soundness of a 'financial institution' pursuant to U.S.S.G. ยง 2F1.1(b)(8)(A) (2000)." Enron's savings plan and employee stock ownership plan were not "financial institutions" for the purpose of this sentencing guideline.
In other action, NY AUSA Marc Litt wants Ponzi scammer Bernard Madoff to go to jail, go directly to jail, so he can't disperse any more of his assets. Larry Neumeister has this story for AP. Chad Bray, Amir Efrati and Kara Scannell have this story in the WSJ.
Leave a comment