From today's WSJ (5/27):
With the convictions, Mr. Skilling faces the loss of much or all of his estimated $57 million in assets, say federal authorities. Mr. Lay, who appears to be in much poorer financial shape, also faces the loss of his remaining wealth.
U.S. District Judge Sim Lake, who presided over their trial, can impose fines and order millions of dollars of restitution. Since Mr. Skilling was convicted on one count of insider trading, involving a $15 million sale of Enron stock, the government could move to seize that amount.
Mr. Skilling also faces a substantial claim on his remaining assets by his defense team for legal bills. (Mr. Lay wasn't charged with insider trading.) Both men also still face potentially large civil liabilities from shareholder lawsuits. . . .
U.S. District Judge Sim Lake, who presided over their trial, can impose fines and order millions of dollars of restitution. Since Mr. Skilling was convicted on one count of insider trading, involving a $15 million sale of Enron stock, the government could move to seize that amount.
Mr. Skilling also faces a substantial claim on his remaining assets by his defense team for legal bills. (Mr. Lay wasn't charged with insider trading.) Both men also still face potentially large civil liabilities from shareholder lawsuits. . . .
Prison is just one part of the penalty that Enron's Lay and Skilling face
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Oleh
abudzar
