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Old 10-27-2006, 01:42 PM
John Doe John Doe is offline
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Join Date: Jan 2006
Posts: 101
Quote:
Originally Posted by Ocean View View Post
He got what he deserved.

No matter how nice the prison is, it won't be a picnic compared to the lifestyle that he was accustomed to.

Was he married? Kids?
If they go after his assets, does that mean the family gets left out in the cold?
Agreed--although from my perspective he got what he deserved becaue a jury found him guilty.

The govt has already moved to seize Skilling's assets. My understanding is that Skilling had not engaged in any 'seizure protection strategy' ala OJ with retirement annuities, ect.... and had a lot of cash on hand and some real estate. The hickup is going to be that out of that $60M, his lawyers are challenging the govt. to disburse $20M to them. There is also the issue of Mr. Skilling's child support obligation which is also being challenged.

Far more complicated is Ken Lay. He didn't have near the money of Skilling, but since he died before sentencing--he is NOT GUILTY. Therefore, the govt. can't seize jack **** from his estate. So various aggrieved parties will have to sue his estate civilly if they want anything out of him. The bulk of what his wife got when he died was life insurance proceeds, which are normally not subject to judgmentg, even when the payments may have been made with ill gotten gains.

What I have heard at a national meeting on the subject is that a collective strategy is going to emerge class action style, where the plaintiffs go after deeper pockets, like companies that profitted from doing business with Enron, while knowing something was afoot--I heard GoldmanSachs mentioned for instance. This is similar to what has happened with folks who lost money in WorldCom.
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