Skilling Convictions Upheld, Resentencing Ordered

HOUSTON -- A federal appeals court Tuesday upheld former Enron Chief Executive Jeffrey Skilling's convictions for his role in the energy giant's collapse, but vacated his 24-year prison term and ordered that he be resentenced.

A three-judge panel of the 5th U.S. Circuit Court of Appeals in New Orleans denied Skilling's request to overturn his convictions. Skilling argued his conviction was invalid because of what his lawyers argued were incorrect legal theory, faulty jury instructions, a biased jury and prosecutorial misconduct, including accusations of witness intimidation and withholding evidence.

While denying those arguments, the judges agreed U.S. District Judge Sim Lake erred by applying guidelines that resulted in a prison term of 24 years and four months, and ordered that Skilling be resentenced. ...