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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Africa Europe Latin America Middle East North America US Supreme Court takes up jailed Enron chief's appeal AFP - Monday, March 1 Send IM Story Print The US Supreme Court on Monday will take up the appeal of former Enron CEO Jeffrey Skilling, seen here in 2006 in Houston. Skilling is serving 24 years in jail for his role in the energy giant's 2001 bankruptcy and one of the biggest corporate scandals in US history. WASHINGTON (AFP) - – The US Supreme Court on Monday will take up the appeal of former Enron CEO Jeffrey Skilling, who is serving 24 years in jail for his role in the energy giant's 2001 bankruptcy and one of the biggest corporate scandals in US history. Skilling, who has become the poster child for corporate malfeasance, appealed his May 2006 conviction by challenging a 1988 federal law that makes corporate bosses liable to prosecution for depriving shareholders of "honest services." His lawyers argued that the statute is "vague and unenforceable" and does not require proof that the accused received a personal gain from the alleged fraud. The nine justices on the court have between now and June to decide both Skilling's appeal and that of former Anglo-Canadian newspaper magnate Conrad Black, who was convicted July 2007 under the same honest services statute. Skilling's lawyers argued in court documents that long before his trial in Houston, Texas, their client was pronounced guilty in the media, which included "blistering daily attacks" on Skilling and Enron founder Kenneth Lay. "Skilling and Lay were compared to Al-Qaeda, Hitler, Satan, child molesters, rapists, embezzlers and terrorists," the lawyers wrote, arguing that the jury pool was "biased" and their request for a change of venue should have been approved. Lay died of heart failure in July 2006 before he could be sentenced and his conviction on 10 counts of fraud, conspiracy and banking violations was thrown out because his death prevented him from appealing the verdict. Independently of the Supreme Court's decision, Skilling's prison sentence is under review by a separate court of appeal. Enron's spectacular 2001 collapse, the largest corporate bankruptcy in history at the time with more than 40 billion dollars in outstanding debt, came to epitomize corporate greed in the heady days of the Internet boom. Skilling and Lay hid company losses and hyped the stock's value while selling their own shares on the sly as the massive energy empire crumbled. Thousands of people lost their jobs and life savings when Enron collapsed. The ensuing scandal undermined faith in corporate America and led to a massive stock market sell-off. The case was also one of the most complex involving corporate crime in US legal history and represented a high-profile test for the government's crackdown on corporate wrongdoing. Recommend Send IM Story Print Related Articles Iran to cooperate with IAEA, continue talks - Mottaki Reuters - 44 minutes ago Georgia and Russia re-open land border crossing Reuters - 46 minutes ago Afghanistan bans coverage of Taliban attacks Reuters - 49 minutes ago Ukraine leader vows reform, reliability in energy Reuters - 1 hour 11 minutes ago US consumer spending grows but incomes lag AFP - 1 hour 32 minutes ago News Search Top Stories US consumer spending grows but incomes lag Crosby show as Canada beat USA in gold thriller World's most powerful atom smasher restarts: CERN No German rescue plan for debt-ridden Greece Debt-hit Greece must step up spending cuts: Juncker More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended World's most powerful atom smasher restarts: CERN Be of good heart: Happiness helps ward off cardiac disease Vast iceberg could disrupt ocean currents, weather Crosby show as Canada beat USA in gold thriller British banking faces major makeover More Most Viewed » Florida killer whale to stay in park after deadly attack DNA reveals some mystery on King Tut, raises questions Scientists recreate Big Bang heat of 4 tln degrees C First footage of clouded leopard captured in Borneo More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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