The US Court of Appeals for the Fifth Circuit will hear arguments today in the appeal of former Enron CEO Jeff Skilling. Kristen Hays’ Houston Chronicle story here discusses the key issues, especially the “honest services fraud” theory used to convict him. The Fifth Circuit has already rejected this theory in vacating convictions in the Enron/Merrill Lynch Nigerian Barge case. Skilling was convicted in May 2006 on 19 of 28 counts including conspiracy, securities fraud and insider trading; he is currently serving a 24 year prison sentence.
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