Ex-Enron CEO sentenced for his role in the grand-daddy of corporate frauds.
By Shaheen Pasha, CNNMoney.com staff writer
October 23 2006: 5:39 PM EDT
HOUSTON (CNNMoney.com) -- Former Enron Chief Executive Jeffrey Skilling, who gained infamy as the man who orchestrated the largest corporate fraud in history, was sentenced to more than 24 years in jail Monday.
Skilling stood stoically, his hands clasped before him, as presiding Judge Sim Lake handed down his sentence. His wife Rebecca, however, sobbed quietly in her seat as victims of Enron's collapse watched the proceedings stone-faced.
Judge Lake ordered Skilling to remain on house arrest until the Bureau of Prisons determined his date of incarceration. He denied the government's motion for Skilling to be taken into custody immediately.
In addition, Judge Lake denied defense attorney Daniel Petrocelli's request to lower the sentence by 10 months in order to allow Skilling to serve his sentence at a lower security- level penitentiary