In contrast, in the US, many have been convicted for charges related to insider trading from world famous homemaker Martha Stewart to Enron Corp CEO Jeff Skilling
. According to CNN, Stewart was convicted in 2004 of conspiracy and obstruction of justice related to an investigation into her selling of shares of drugmaker ImClone Systems.
The leak led to the company's CEO Jeff Skilling
's 24-year prison sentence.
Enron, for instance, whose CEO Jeff Skilling
was formerly from McKinsey, took pride in firing the bottom 15 percent of employees even if they did well.
I use this paper to untangle these mergings by drawing on the case of former energy giant Enron's corporate fraud trial, a trial that criminally prosecuted Enron's former CEOs (Chief Executive Officers) Jeff Skilling
and Ken Lay.
In the trial of Enron Chairman Ken Lay and CEO Jeff Skilling
, the prosecution offered the defense FBI forms that Powell describes as "composite" reports that had been "cut and pasted and otherwise edited repeatedly." When four Merrill Lynch executives were put on trial for allegedly conspiring in an illegal buyback arrangement on a transaction with Enron, the thousands of pages of grand jury transcripts, FBI reports, and witness interviews were reduced to a 19-page summary for the defense.
In that case, the court refused to relocate a trial for former Enron Corporation executive Jeff Skilling
A key character in the play is Jeff Skilling
, whose real-life counterpart is currently serving a 24-year jail term for his part in the scandal.
the architect of Enron's cataclysmic collapse was, after all, a Harvard B-school graduate.
The $735 million earned by Gary Winnick, the CEO of Global Crossing, while his company was heading toward bankruptcy; the $112 million earned by Jeff Skilling
, President and CEO of Enron, in the three years before his company collapsed after being accused of phony accounting practices; the $240 million earned by Tyco's Dennis-Kozlowski before he was fired and accused of tax fraud--all this undermines the faith people have in, the fairness and justice of the market.
Was it caused by a lack of leadership by Ken Lay and Jeff Skilling
? Or was it a preview of Wall Street's unregulated madness that is now pushing the world into a global recession?
If we talked today with Jeff Skilling
, then CEO, and asked whether, with hindsight, some timely analysis of capabilities in relation to what they were doing might have saved them many problems, he would probably agree.