Tuesday, October 24, 2006

Skilling Gets 24-Year Sentence

Sending a strong signal to the corporate community, a federal judge convicted former Enron Corp Chief Executive Officer Jeffrey Skilling to more than 24 years in prison on Monday for his role in an accounting fraud that brought down the company.

US District Court Judge Sim Lake sentenced Skilling in a Houston, Texas courtroom after hearing testimony from several victims in the case. Skilling was convicted in May on 19 counts of fraud, conspiracy and insider trading at the energy-trading firm.