Supreme Court Rejects Enron Exec's Appeal To Overturn Criminal Conviction
WASHINGTON, April 16 (Reuters) - The U.S. Supreme Court on Monday refused to hear the latest appeal by former Enron Corp Chief Executive Jeffrey Skilling seeking to overturn his criminal conviction over the collapse of the Houston-based energy trading giant more than a decade ago.
The justices without any comment declined to review a ruling by the U.S. 5th Circuit Court of Appeals that rejected Skilling's legal challenge to his conviction and that found that any error committed by the trial judge was "harmless."
The appeals court ruled a jury in the case had been presented with overwhelming evidence that Skilling conspired to commit securities fraud and it refused to grant him a new trial.
Skilling has been serving a sentence of more than 24 years in a federal prison.
After Enron, our "valued" representatives came up with Sarbanes Oxley which is a meddlesome set of rules that make my job a pain, but clearly after the latest Wall Street debacle show once again that goverment regulation doesn't actually cut down on fraud.
Personal note: Skilling and I graduated from the same school. He was the alumni of the year after he donated a bunch of Enron shares. Now they don't mention him anymore after the stock wound up worthless.
Thomas Sowell: There are no solutions, just trade-offs.
Maybe if we can get even more regulation, I can always quit the private sector and watch pr0n on the taxpayers dime like those SEC boys who ignored the warnings about Madoff.
Thomas Sowell: There are no solutions, just trade-offs.
