Business News
US Supreme Court to hear appeal by former Enron boss
Oct 13, 2009, 16:14 GMT
Washington - The US Supreme Court agreed Tuesday to hear an appeal by former Enron chief executive Jeffrey Skilling, who is serving a 24-year jail sentence for his role in bringing down the massive energy company earlier this decade.
Skilling was convicted on a series of fraud charges in 2006 along with Enron founder Kenneth Lay. The two former executives helped cause a bankruptcy in 2001 that cost thousands of jobs and billions of dollars to shareholders and pensioners.
The top US court will hear the case in early 2010 after his appeal was rejected by lower courts. A favourable ruling could lead to a new trial for Skilling, who has appealed his sentence on the grounds that he didn't receive a fair trial.
Skilling is also targeting the federal law that prosecutors used to charge him: A failure to render 'honest services' as chief executive of a company. The Supreme Court could rule on the constitutionality of the often-criticized law.
Lay died of a heart attack after the trial and before his sentencing hearing.
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