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No Get Out Of Jail Card For Dynergy Inc.'s Olis

Law360 (May 24, 2006, 12:00 AM EDT) -- Another sad footnote was added to former Dynergy Inc. tax manager Jamie Olis’ ongoing sentencing dilemma on Monday when Fifth Circuit judges denied his appeal to leave jail pending resentencing.

The 38-year-old manager was convicted and sentenced to over 24 years in federal prison because of his involvement in the Project Alpha financial scheme, in which Olis borrowed $300 million and masked the loan as funds generated from operations.

The harsh sentence was calculated using a federal point system created in 2001 after the Enron scandal....
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