Tuesday, October 24, 2006

Corporate criminals.....of different stripes.

Jeffrey Skilling, the former chief executive of Enron, was last night sentenced to more than 20 years in prison. Skilling, who has said he will appeal his conviction on 19 criminal charges, was also ordered to pay £24 million in compensation to Enron investors. He was given an electronic ankle tag and told he could remain free otherwise until ordered to report to a jail to begin 24 years and four months behind bars.Monday afternoon, Jeff told reporters that he had suffered over the past five years. My heart bleeds.....
The fact is Skilling will probably die of old age awaiting appeal.
Skilling and his ilk, though, are the kind of criminals who should get the harshest possible sentence; they are infinitely more harmful to society than the criminals we might see being reported on the TV news every night.
But what of the EU's false accounting practices. See here.

4 comments:

CityUnslicker said...

At least the enron cas has woken the US up to the severity of corporate fraud.

As per your link, in the EU and even in the UK, the approach to white collar fraud urgently needs updating for the 21st century.

There is still an old boys club approach to this type of criminality; not the mark of a fair society

Anonymous said...

Maybe - but I worked with Jeff Skilling 20 years ago and although he is guilty I wonder why he gets a sentence 3 times longer than someone who commits murder in the UK

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