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Monday, August 14, 2006

Double Down For Justice...

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Federal prosecutors want former Enron chief Jeffrey Skilling to turn over nearly 183 (M) million dollars.

They say the money helped perpetuate Enron's collapse -- one of the biggest business frauds in U-S history.The government had originally split the amount between Skilling and company founder Kenneth Lay -- but Lay died last month of heart disease.The government says the two pocketed the money by conspiring to present an optimistic public picture of Enron's health when they knew it was an illusion propped up by cooked books.A filing yesterday says because of Lay's death, Skilling should have to pay all of it. A judge has yet to rule.

Skilling has already been convicted on multiple counts of fraud, conspiracy, insider trading and lying to auditors. He insists no fraud occurred but faces decades in prison at his scheduled October sentencing.

posted by Patrick J. Fitzgerald

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