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Guilty

zuzu

Ken Lay and Jeffrey Skilling, for fraud and conspiracy.

The conspiracy and fraud convictions each carry a sentence of 5 to 10 years in prison.

I’m a little unclear as to whether that’s per count, or for all counts combined. Lay was convicted on all counts of conspiracy, wire fraud, bank fraud, securities fraud, false statements to banks and bank fraud (this last was tried separately, by a judge). Skilling was convicted of all counts of conspiracy, securities fraud, false statements to auditors, and two of ten counts of insider trading.

Well done.

4 thoughts on Guilty

  1. The real question is this: what are their guideline numbers? After Booker, the U.S. Sentencing Guidelines are merely advisory and not binding, but their are still the starting point for the discussion. I expect these guys will top out the financial loss calculations, and get the upward adjustments for planning, etc. I have not looked as USSG in years. Any fed crim mavens have it handy?

  2. I’m a little unclear as to whether that’s per count, or for all counts combined.

    I don’t think that’s the sentence for all counts combined. According to AP:

    The charges for which Lay was convicted carry a maximum penalty in prison of 45 years in the corporate trial and 120 years in the personal banking trial. The charges for which Skilling was convicted carry a maximum penalty of 185 years in prison.

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