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| Enron boss gets 24-year sentence | Enron boss gets 24-year sentence |
| (10 minutes later) | |
| Former Enron boss Jeffrey Skilling has been sentenced to 24 years for his role in the giant fraud that led to the energy firm's 2001 collapse. | Former Enron boss Jeffrey Skilling has been sentenced to 24 years for his role in the giant fraud that led to the energy firm's 2001 collapse. |
| In May he had been found guilty on 19 counts including fraud, conspiracy and insider trading, and was told he could expect 20 to 30 years in prison. | In May he had been found guilty on 19 counts including fraud, conspiracy and insider trading, and was told he could expect 20 to 30 years in prison. |
| The former chief executive of the US energy giant was convicted together with Enron's ex-chairman Kenneth Lay. | |
| Mr Lay has since died and his convictions have been quashed. | Mr Lay has since died and his convictions have been quashed. |
| This is because Mr Lay, who died of a heart attack in July, passed away before he was able to appeal against the verdict. | This is because Mr Lay, who died of a heart attack in July, passed away before he was able to appeal against the verdict. |
| The scandal at the one-time energy giant left 21,000 people out of work, and shook corporate America, when the firm went bankrupt in 2001 with debts of $31.8bn (£18bn). | The scandal at the one-time energy giant left 21,000 people out of work, and shook corporate America, when the firm went bankrupt in 2001 with debts of $31.8bn (£18bn). |
| Remorse | |
| Skilling was found to have orchestrated a series of loss-making deals and financial schemes to try and hide debts from investors. | Skilling was found to have orchestrated a series of loss-making deals and financial schemes to try and hide debts from investors. |
| You should be ashamed Ann Beliveaux, Former Enron employee | |
| "Crimes of this magnitude deserve severe punishment," US District Court Judge Sim Lake told Skilling before sentencing him to 24 years and four months in jail. | |
| "In terms of remorse your honour, I can't imagine more remorse," Skilling told the court before he was sentenced. | |
| "That being said your honour, I am innocent of these charges." | |
| Before sentencing Skilling was made to listen to testimony from a number of victims of the Enron fraud. | |
| "You should be ashamed," said Ann Beliveaux, an employee who lost her entire retirement savings. | |
| "When things got bad, you jumped ship." | |
| Skilling has said he will appeal against his conviction. | |
| The judge confined him to his home where he is to wear an ankle monitor until he reports to prison. |