“Jeffrey Skilling, the former Enron Corp. chief executive who resigned less than four months before the company shattered in scandal, surrendered Thursday to face expected criminal charges related to the company’s collapse,” according to a story on today’s Wall Street Journal Online.
“Flanked by a pair of attorneys, Mr. Skilling turned himself in at the Houston FBI offices just before daybreak. About 15 minutes later, his hands behind him in cuffs, he was placed in a car for the trip to the federal courthouse in downtown Houston. He was expected to appear later in the day before a federal judge on charges related to Enron’s collapse, according to two sources close to the investigation who spoke on condition of anonymity.”
” ‘ Under the circumstances, he is doing extraordinarily well,’ said Dan Petrocelli, one of his lawyers.”
“Almost exactly two years ago, Mr. Skilling bucked the trend of former Enron executives invoking their Fifth Amendment rights before Congress, telling two panels he knew nothing about serious problems at the energy trader before he quit after serving as CEO for only six months.”
“Barring any last minute delays, Mr. Skilling, 50 years old, would be the highest-profile former Enron executive to date to face criminal charges. He would be the 28th individual to be charged and one of the most anticipated in the Justice Department’s methodical investigation, which passed its two-year mark last month.”
“Another of his lawyers, Bruce Hiler, visited the federal courthouse in Houston Wednesday afternoon to familiarize himself with its layout.”
“Mr. Skilling’s former boss, Enron founder and former chairman Kenneth Lay, hasn’t been charged, and the sources said it wasn’t clear if he would become a defendant.”
“Both men, through their lawyers, have maintained their innocence of any wrongdoing related to Enron’s failure.”
“It wasn’t immediately clear what charges Mr. Skilling would face, although the sources said they likely would be similar to conspiracy and fraud counts filed last month against former top Enron accountant Richard Causey.”