Skilling was found guilty on 19 counts of conspiracy, fraud, false statements and insider trading. He was found not guilty on eight counts of insider trading.
Lay was found guilty on all six counts of conspiracy and fraud. In a separate bench trial, Judge Sim Lake ruled Lay was guilty of four counts of fraud and false statements.
Both Lay and Skilling could face 20 to 30 years in prison, legal experts say.
A co-worker and I were actually talking about this just yesterday. She was mentioning that prison just didn't seem like the right punishment for these two. They're not really threats to society and prison isn't going to return all the money they stole from innocent people's retirements. But what else can we do? Furthermore, one could argue that they are a threat to society. Maybe not a violent threat, but what's to stop them from committing more white collar crimes. Personally, I hope they rot in prison for 30 years.
Posted by Hey Paul
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Thursday, May 25, 2006
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