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The Honolulu Advertiser
Posted on: Tuesday, December 12, 2006

Former Enron executive wins a delay of sentence

By Laurel Brubaker Calkins
Bloomberg News Service

NEW ORLEANS — Former Enron Corp. CEO Jeffrey Skilling, sentenced to 24 years in prison for his role in a massive fraud that destroyed the company, won a last-minute delay of his sentence, scheduled to begin today.

The U.S. Court of Appeals in New Orleans yesterday issued a stay of the order requiring Skilling, convicted in May of securities fraud and conspiracy, to report to prison, according to court records.

"This order is entered solely to allow court to give careful consideration to the request for bail pending appeal," the ruling said. Skilling, 53, was to arrive at the low-security Federal Correctional Institution in Waseca, Minnesota, this afternoon.

Skilling, who maintains his innocence and said he was made a scapegoat, has asked to remain free on bail while he appeals his conviction. Former Enron chairman Kenneth Lay, who was convicted with Skilling, died in July before he could be sentenced.

"We are glad the court is taking the necessary time to consider our motion," Daniel Petrocelli, Skilling's lead trial lawyer, said in an e-mail. Department of Justice representative Jaclyn Lesch declined to comment.

Skilling, who helped transform Enron from a sleepy pipeline company into the world's largest energy trader before the company plunged into bankruptcy in 2001, is under house arrest in his 9,215-square-foot Mediterranean mansion in Houston's River Oaks section.