Skilling can remain in house arrest

Discussion in 'Wall St. News' started by Pekelo, Dec 12, 2006.

  1. Pekelo


    He was allowed to stay in house arrest instead of reporting to prison yesterday...

    "Skilling was scheduled to report to a federal prison in Minnesota on Tuesday to begin a 24-year sentence for his role in hiding Enron's financial condition from investors as the company's fortunes eroded prior to its 2001 collapse."

    If I were him, I would jump bail...
  2. He'll be reunited with his buddy Ken Lay soon if it's in the script. :D
  3. Just saw on Bloomberg that Skilling will enter that federal prison in Minnesota as early as today, after all, according to his lawyer.

    "The federal prison where Skilling will serve his 24-year term lies near the edge of Waseca, population 9,737, nestled between two lakes in the hills of southern Minnesota, 75 miles south of Minneapolis and more than 1,000 miles away from Houston, Enron's former headquarters.

    A sign by one lake bears the town's slogan: "Waseca: for an Hour or a Lifetime.''

    Good to have a choice. ;)
  4. Yep, you and me both. 24 years? They would have to catch me first. I would have had my stash of cash already set up long before the conviction.
  5. Pekelo


    Yeap, the idiot had like 30 hours to "step away" from house arrest. I would rather be washing dishes down in Mexico, than be a guest of the federal prisonsystem, no matter how friendly is...

    I assume he thinks 12 years in Club Fed isn't so bad...
  6. It's official... he's in.

    12 years... you think? The projections I've read call for 18-19 years, with time off for good behavior and alcohol treatment program. That would put him in his 70s when he gets out (he's 53 now). Hardly an appealing prospect.
  7. Truff


    I think federall prison you need to serve at least 3/4 of the sentence
  8. OK, that makes sense. 24y4m x 3/4 = 18y3m.
  9. He was about as smart as Bernie Ebbers. He turned over all his assets, and still got 30 years.

    Catch me if you can.
  10. He should have split long ago. Dummy!
    #10     Dec 13, 2006