TX - Kenneth Lay & Jeffrey Skilling for Enron fraud, money laundering, Houston, 2006

[Maral]

Why couldn't the judge give him a hefty fine, too? That way, the employees could have the chance of recouping some of their retirement investment. I can't tell you how livid I would be if my husband or I worked and saved, just to have the money go down the drain. I would want to kill the guy. :furious:

In an agreement that was also announced Monday, Skilling's remaining assets of about $60 million, including a $5 million mansion in Houston and nearly $50 million in stocks and bonds, will be liquidated.

About $45 million will be put in a restitution fund for victims. The remaining $15 million will go to Skilling's legal fees. He still owed his lawyers $30 million as of Monday.
Link

 

[2sisters]

Why couldn't the judge give him a hefty fine, too? That way, the employees could have the chance of recouping some of their retirement investment. I can't tell you how livid I would be if my husband or I worked and saved, just to have the money go down the drain. I would want to kill the guy. :furious:

especially if you were around 50-60 and that was all you had for retirement.

 

[DEPUTYDAWG]

I read (sorry, no link) this morning that the Judge will cut off one year of his sentence if he completes alcohol counseling and mental health counseling.

Hello! He's supposedly going to be in fed prison for 20-24 yrs, considering good time deducted (which is a farce, IMO)...unless he's drinking pruno, he won't be indulging in alcohol. Sorry, I just don't agree with cutting off 1/24 just because he goes through that program. JMHO, of course.

And heck, since he's going to be a captive audience with a lot of time on his hands for the next few years, he could be doing the mental health counseling anyways. Why reward him for that?

 

[deanws]

I think he'll serve at least 20 years of his sentence. There is no paraole for federal crimes. But, under federal law, a defendant can get 2 months a year taken off for good behavior. I also think that since he was sentenced to more than 7 years, he can't serve his time in a minimum security facility.

I hope so Maral. Thanks!~

 

[Jules]

The widow of former Enron Chairman Ken Lay wants a judge to throw out the government's push to seize nearly $13 million in cash and property that prosecutors say is tied to crimes.

In a court filing, lawyers for Linda Lay argued that the government fails to sufficiently back up allegations that the cash and property in question was tainted.

At the very least, she argued that the government isn't entitled to seize the upscale Houston condominium she shared with her husband whether or not part of its mortgage was paid off with tainted funds.

http://www.chron.com/disp/story.mpl/front/4829849.html

 

[nanandjim]

The widow of former Enron Chairman Ken Lay wants a judge to throw out the government's push to seize nearly $13 million in cash and property that prosecutors say is tied to crimes.

In a court filing, lawyers for Linda Lay argued that the government fails to sufficiently back up allegations that the cash and property in question was tainted.

At the very least, she argued that the government isn't entitled to seize the upscale Houston condominium she shared with her husband whether or not part of its mortgage was paid off with tainted funds.

http://www.chron.com/disp/story.mpl/front/4829849.html

I feel bad for Linda Lay. However, she should not profit from her husband's misdeeds. If she can prove that the condo and other assets were paid with untainted money, then let her have it. If she can't, then the assets need to be sold and the monies given to the ex-Enron employees.

Put it this way. If a Brinks robber got away with several million and he then used the money to buy houses and all sorts of diamonds and material items for his wife, don't you think that the government would seize everything that he bought with his ill-gotten gains?

 

[Jules]

I feel bad for Linda Lay. However, she should not profit from her husband's misdeeds. If she can prove that the condo and other assets were paid with untainted money, then let her have it. If she can't, then the assets need to be sold and the monies given to the ex-Enron employees.

Put it this way. If a Brinks robber got away with several million and he then used the money to buy houses and all sorts of diamonds and material items for his wife, don't you think that the government would seize everything that he bought with his ill-gotten gains?

I fail to believe she was clueless to what he was doing; therefore, I don't feel too bad for her. She benefited greatly, lived an extremely lavish lifestyle and continues to do so. Friends of ours will never be able to retire and have lost their homes, etc. I hope the government goes after every dime they can.

 

[nanandjim]

I fail to believe she was clueless to what he was doing...

I seem to remember that she (they?) hired a PR rep when this scandal broke. Didn't she act kind of snobby? If so, I really don't feel sorry for her. However...I know that I would be clueless as to my husband does as I do not pay attention. He has told me his salary, etc., over and over again; and I don't really listen to him as I am not really interested. So, I can believe that some wives are clueless. :blushing: I don't know about her, though.

I can well understand where you are coming from as you know people who were personally destroyed by the wrongdoing of a few men at the top, who tremendously benefitted at the expense of the regular employee.

 

[Jules]

I seem to remember that she (they?) hired a PR rep when this scandal broke. Didn't she act kind of snobby? If so, I really don't feel sorry for her. However...I know that I would be clueless as to my husband does as I do not pay attention. He has told me his salary, etc., over and over again; and I don't really listen to him as I am not really interested. So, I can believe that some wives are clueless. :blushing: I don't know about her, though.

I can well understand where you are coming from as you know people who were personally destroyed by the wrongdoing of a few men at the top, who tremendously benefitted at the expense of the regular employee.

I guess if it were me in her place, I'd be asking where all the money was coming from. All of a sudden lavish homes, boats, furnishings, jewelry, etc. I know what my husband makes too, but would notice if he was buying me homes, jewelry, etc. I'd be curious to know where it came from.

And, yes, she is VERY snobby. With us being local, she was on the news here constantly. She's disgusting, IMO. I would be mortified if my husband was accused of what her's was, yet she seemed completely unfazed as reporters would try to talk to her as she was leaving Saks with tons of bags. I would NEVER be able to shop like that on someone else's dime.

 

[nanandjim]

I guess if it were me in her place, I'd be asking where all the money was coming from. All of a sudden lavish homes, boats, furnishings, jewelry, etc. I know what my husband makes too, but would notice if he was buying me homes, jewelry, etc. I'd be curious to know where it came from.

And, yes, she is VERY snobby. With us being local, she was on the news here constantly. She's disgusting, IMO. I would be mortified if my husband was accused of what her's was, yet she seemed completely unfazed as reporters would try to talk to her as she was leaving Saks with tons of bags. I would NEVER be able to shop like that on someone else's dime.

I don't know the details. I just assumed that, because her husband was a CEO, they were used to living a lavish lifestyle.

Of course, I would also notice if there were a sudden change; and I would ask what was up! I do pay the bills in our house. So, please, I hope that I'm not coming across as a financial idiot because I am not. I just don't ask him details about his salary. If a gun were to my head, I'm sure that I could parrott everything that he has told me.

 

[Jules]

So, please, I hope that I'm not coming across as a financial idiot because I am not.

Not at all! I didn't think that. I just think I'd notice if all of a sudden we are building multi-million dollar homes in multiple locations, taking extremely lavish vacations, etc.

From what I've heard, they were used to a certain comfort level, but nothing like the last handful of years before they were caught.

Really is sad what money and greed can do to people. Not only did these people destroy their own lives - many serving prison terms and others dead - but look at all the people they destroyed too. People that worked their butts off and trusted their employers. It just disgusts me.

 

[Jules]

HOUSTON — A judge says the federal government can proceed with its attempt to seize nearly $13 million from the estate of former Enron Corp. founder Kenneth Lay.

U.S. District Judge Ewing Werlein rejected a request from Lay's widow to halt the government's bid for the money, which prosecutors claim were "proceeds of the fraud proven in the criminal case against Lay."

http://www.foxnews.com/story/0,2933,311779,00.html

:woohoo: :woohoo:

 

[deanws]

HOUSTON — A judge says the federal government can proceed with its attempt to seize nearly $13 million from the estate of former Enron Corp. founder Kenneth Lay.

U.S. District Judge Ewing Werlein rejected a request from Lay's widow to halt the government's bid for the money, which prosecutors claim were "proceeds of the fraud proven in the criminal case against Lay."

http://www.foxnews.com/story/0,2933,311779,00.html

:woohoo: :woohoo:

I saw this on the news. I am sooo happy! I have wondered when the day would come that she would get her due. It was ill gotten money and IMO was stolen from the clueless investors. It was a HUGE SCAM in its truest form!
:clap: :clap: :clap: :clap: :clap: :clap:

 

[TarBaby]

I agree 100% with what you said. It's time for the raping of America's taxpayers and shareholders to stop. CEO used to mean something other than 'Criminal Enterprise Officer'



TB

I saw this on the news. I am sooo happy! I have wondered when the day would come that she would get her due. It was ill gotten money and IMO was stolen from the clueless investors. It was a HUGE SCAM in its truest form!
:clap: :clap: :clap: :clap: :clap: :clap:

 

[deanws]

CEO used to mean something other than 'Criminal Enterprise Officer'



TB

LOL!!! Criminal Enterprise Officer! LOL!!!

:crazy:

 

[CaliKid]

Good, I'm glad his estate will have to partially reimburse.

 

[nanandjim]

HOUSTON — A judge says the federal government can proceed with its attempt to seize nearly $13 million from the estate of former Enron Corp. founder Kenneth Lay.

Will they be able to freeze any of the assets? I'd hate for her to move the money offshore or hide it.

 

[nanandjim]

I agree 100% with what you said. It's time for the raping of America's taxpayers and shareholders to stop. CEO used to mean something other than 'Criminal Enterprise Officer'



TB

Not all CEO's and companies are like Enron. Fortunately, they are few and far between. Because of the fraud perpetrated by Enron's top execs, all companies now have much stricter guidelines, paperwork and rules. It is really a hassle.

I personally know a few CEO's and many of the top executives because my husband is one. They work their rear ends off, much more than most people know and much more than they are given credit for.

 

[Jules]

Will they be able to freeze any of the assets? I'd hate for her to move the money offshore or hide it.

I believe they already have. I know they seized a bunch of stuff before and it's been frozen while they waited for the courts to make a decision on things.

I hope they take it all from her. Greedy biotch.

How could you continue your lavish lifestyle when you know how your husband scammed his employees?? There is no way I could live like that. I'd be doing everything in my power to help the people my husband stole from.