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Latest Jeffrey Skilling Stories

2005-12-13 15:09:40

By Matt Daily HOUSTON (Reuters) - Former Enron Corp. Chairman Ken Lay on Tuesday said he was the victim of a "wave of terror" by prosecutors and blamed his former chief financial officer for the energy company's spectacular downfall. In a preview of his defense at his criminal trial next month, Lay, in a speech to a Houston group, said he was only to blame for trusting Andrew Fastow, Enron's CFO, who has pleaded guilty to charges and will be the government's key witness against Lay...

2005-08-11 11:14:35

NEW YORK (Reuters) - Ex-WorldCom Inc. financial chief Scott Sullivan, the government's star witness at the criminal trial of former Chief Executive Bernard Ebbers, was sentenced on Thursday to five years in prison for assisting in the $11 billion business fraud at the company. Sullivan, 43, pleaded guilty to conspiracy, securities fraud and making false financial filings. He cooperated with prosecutors probing wrongdoing at WorldCom in hopes of receiving a reduced prison sentence....

2005-08-11 11:05:58

NEW YORK (Reuters) - Ex-WorldCom Inc. financial chief Scott Sullivan, the government's star witness at the criminal trial of former Chief Executive Bernard Ebbers, was sentenced on Thursday to five years in prison for assisting in the $11 billion business fraud at the company. Sullivan, 43, pleaded guilty to conspiracy, securities fraud and making false financial filings. He cooperated with prosecutors probing wrongdoing at WorldCom in hopes of receiving a reduced prison sentence....

2005-08-02 17:52:16

By Dan Wilchins NEW YORK (Reuters) - Canadian Imperial Bank of Commerce said on Tuesday it had agreed to pay $2.4 billion to investors of Enron Corp., the largest payment so far from a group of banks accused of helping the energy firm hide its debts before it collapsed in 2001. The bank's agreement, which exceeds its 2004 earnings, brings the total size of the settlement to a record $7 billion -- the largest U.S. securities settlement. William Lerach, the main lawyer on the case for...

2005-08-02 15:46:11

By Martha Graybow and Dan Wilchins NEW YORK (Reuters) - Canadian Imperial Bank of Commerce has settled with investors of collapsed energy firm Enron Corp for $2.4 billion, CIBC and the lead plaintiff in a class-action lawsuit against a group of banks said on Tuesday. The agreement, paid to investors who accused the banks of defrauding shareholders, is the largest in the Enron class-action suit so far and will bring the total size of the Enron class-action settlement to a record $7...

2005-08-02 15:06:39

Recasts, adds comment from plaintiff attorney, background By Martha Graybow and Dan Wilchins NEW YORK (Reuters) - A third bank has reached a major settlement with investors of collapsed energy firm Enron Corp, agreeing to pay $2.4 billion, the lead plaintiff in a class-action lawsuit against a group of banks said on Tuesday. This settlement, due to be unveiled later on Tuesday, is the largest to date and will bring the total size of the Enron class-action settlement to a record $7...

2005-07-21 16:29:45

By Matt Daily HOUSTON (Reuters) - U.S. prosecutors' failure to win convictions in the latest Enron Corp. criminal trial will force the government to rethink its strategy before taking on the disgraced energy company's former chiefs, Ken Lay and Jeff Skilling, legal experts said on Thursday. A federal court jury on Wednesday found three former executives at Enron's Internet unit not guilty of two dozen charges, and deadlocked on more than 150 other charges against them and two other...

2005-07-20 18:51:59

By Mark Babineck HOUSTON (Reuters) - A jury found three former executives of Enron Corp.'s broadband Internet unit not guilty on several charges on Wednesday, and a U.S. federal judge declared a mistrial on other counts against them and two other defendants. Defense lawyers who were given jurors' voting cards told reporters the jury had acquitted former Enron Broadband Services Co-Chief Executive Joe Hirko and former technology executive Rex Shelby of a number of counts of insider trading...

2005-07-11 20:20:20

By Peter Szekely WASHINGTON (Reuters) - Enron Corp agreed to put a $356.25 million price tag on government and employee claims against the fallen energy giant's retirement plans, the U.S. Labor Department said on Monday. But the department stressed that since pending bankruptcy court claims against the Houston-based company exceed its assets, payouts to retirement plan participants will be in the "tens of millions of dollars," rather than the full value of the $356.25 million settlement....

2005-07-11 13:19:15

By Martha Graybow NEW YORK (Reuters) - Former WorldCom Inc. Chief Executive Bernard Ebbers likely will get a stiff prison term that could last the rest of his life when he is sentenced by a U.S. judge this week, legal experts said on Monday. The one-time milkman and high school sports coach, who was convicted in March of orchestrating the largest business fraud in U.S. history, likely will receive 10 to 20 years in prison -- or possibly more -- when he is sentenced on Wednesday, experts...


Word of the Day
omadhaun
  • A fool; a simpleton: a term of abuse common in Ireland and to a less extent in the Gaelic-speaking parts of Scotland.
This word is partly Irish in origin.