Skilling Guilty But Should Be Re-Sentenced: 5th Circ.

By Ben James

Law360, New York (January 06, 2009, 12:00 AM ET) -- A federal appeals court ruled Tuesday that former Enron Corp. CEO Jeffrey Skilling should be re-sentenced, but affirmed his 2006 convictions in all respects, in a decision an attorney with the U.S. Department of Justice called a victory for all those harmed by Skilling and his co-conspirators.

A three-judge panel of the U.S. Court of Appeals for the Fifth Circuit vacated Skilling's 24-year sentence, holding that the trial court incorrectly applied a sentencing enhancement for jeopardizing a financial institution.

But the appeals court also concluded that...
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