Mark-Jusbasche did not respond to messages or a phone to call to a home in Taos, N.M. listed to her and her husband. After the collapse of Enron, an estimated 22,000 jobs were lost, as well as $2 billion in employee pension plans and $60 billion in stock. In 1997, Skilling was promoted to president and chief operating officer. He was initially sentenced to 24 years in prison, which was subsequently reduced to 14 years on appeal. He later joined as a partner in Midstream Capital Partners LLC, where several other ex-Enron employees worked. James Osborne covers the intersection of energy and politics from the Houston Chronicles bureau in Washington D.C. On Tangley Street near Rice Village there are two needlepoint shops, Stitches in Time and Needle House, catering to both old and young generations of stitchers. Skilling also sold approximately $60 million in Enron shares. The youngest child, named John Taylor "JT" Skilling, expired on February 3, 2011, due to an overdose of the drug at an early age of 20 in his residence in Santa Ana, California. Rebecca Mark, then chairman and chief executive officer of Enron International, poses in her office Oct. 16, 1997, in Houston. When financial analysts questioned some of Enrons accounting techniques, Chief Executive Officer (CEO) Jeff Skilling and Chief Financial Officer (CFO) Andrew Fastow vouched for the financial results and accused the analysts of not being able to comprehend the numbers put forth. He also agreed not to pursue any further legal appeals, including a claim that would have accused the prosecution team of misconduct. People say were a big successful corporation and they wonder could it happen here.. All the former company leaders CNBC spoke with still recall their time at Enron fondly, as do many of the thousands of employees who may still blame them for the collapse of what all seem to agree was a special place to work. Jeffrey Skilling earned his MBA from Harvard before working with the firm McKinsey. Enron used a special purpose vehicle known as Whitewing to hide some of Enrons debts. Former Enron Chief Financial Officer Andrew Fastow waiting to testify on Capitol Hill Thursday, Feb. 7, 2002 before the House Oversight and Investigations subcommittee hearing on Enron. Court Docket Number: H-04-025-SS. As of April 2023, He has an estimated net worth of $600 thousand. Lou Pai, CEO of Enron Energy Services (EES), What Was Enron? Former Enron CEO Jeffrey Skilling arrives at the Bob Casey Federal Courthouse for a resentencing hearing, in Houston on June 21, 2013. In 2006, he was accused of federal criminal charges in regards to Enrons collapse. He was promoted to president and chief operating officer of Enron during 1997, second only to Lay, while remaining the manager of Enron Capital and Trade Resources. "I also think it's sent a very strong message about corruption in leadership ranks and how that's really something to be avoided at all costs.". Former Enron Chief Executive Officer Jeffrey K. Skilling has been resentenced to 168 months in prison on conspiracy, securities fraud, and other charges related to the collapse of Enron Corporation. Today, she heads the white-collar defense practice as a partner at Latham & Watkins in San Francisco. All Rights Reserved. Former Enron CEO Jeff Skilling surrendered to the FBI in Houston early today to face 57 pages of charges that include insider trading, fraud and conspiracy. Report of Investigation of Enron Corporation and Related Entities Regarding Federal Tax and Compensation Issues, and Policy Recommendations, Pages 79, 208220, and 355 (Pages 101, 230242, and 377 of PDF). The key players in the scandal became household names. WorldCom was a U.S.-based telecom company that underwent one of the largest bankruptcies in U.S. history following a massive spate criminal of accounting fraud. She has also built a consulting firm that focuses on corporate governance and business ethics. The energy company's disintegration threw thousands out of people out of work, sparked federal probes and prompted Congress to crack down on corporate accounting abuses. "For whatever reason, I make them uncomfortable.". To those who were hurt by my actions, directly or indirectly, I apologize. While Watkins is typically billed as a whistleblower, she never took her concerns outside the company. With this relaxation in charges, he dropped his appeals. Estimates are that Enron took away about $27 billion from California customers and the state with its various price-gouging schemes. The Enron audits led to a restatement of debt and earnings dating back to 1997. U.S. Congress, Joint Committee on Taxation, via Federal Depository Library Program Electronic Collection Archive. "[24][25][26], Skilling unexpectedly resigned on August 14 of that year, citing personal reasons, and he soon sold large amounts of his shares in the corporation. When brought in front of congressional committees, Skilling stated that he had "no knowledge" of the complicated scandal that would eventually result in Enron's bankruptcy.[28]. Cato Institute, Policy Analysis. According to reports, Jeff received over $130 million in salary and shares from Enron between 2000 and 2001. In May 2013, the government and Skilling entered into an agreement to recommend jointly to the district court a sentence between 168 months and 210 months of imprisonment, a limited reduction in Skillings guidelines range of imprisonment in exchange for Skilling agreeing, among other things, not to contest the original forfeiture and restitution order and to waive all appeals and other litigation. I'm angry because Ken was the victim of a lynching, he told the congregation. He set up dozens of off-balance-sheet deals and special purpose vehicles that helped hide debt from Enrons balance sheet while simultaneously registering revenue, inflating Enrons stock price in the process. Report of Investigation of Enron Corporation and Related Entities Regarding Federal Tax and Compensation Issues, and Policy Recommendations, Pages 125, 389, 391, 395, and 398 (Pages 147, 411, 413, 417, and 420 of PDF). Lay was also was found guilty of multiple counts of conspiracy and fraud but died of heart failure six weeks after the trial ended, at the age of 64, prompting a federal judge to throw out his conviction. This is a carousel. That should make everyone very uncomfortable," Fastow said in an excerpt from one of his speeches posted online by the BigSpeak Speakers Bureau, where the going rate for a Fastow speech is listed at $10,001-$20,000. His the best movie is Enron - The Smartest Guys in the Room. Former Enron CEO Jeff Skilling (center) leaves the federal courthouse in Houston with his attorney following behind at the end of his fraud and conspiracy trial, May 25, 2006. At the same time, they pressed hard against their auditors (Arthur Andersen) to accept the accounting of some of the dubious investments that Enron had made, all of which had the effect of keeping debt off the balance sheets and pumping up revenue. May 26, 2006 A federal jury finds former top Enron executives Kenneth Lay, right, and Jeffrey Skilling guilty after more than 14 weeks of testimony. His height is 5 ft 9 inches tall, and his weight is 75 kg. The SOX law was designed to make it harder to mislead investors and regulators about corporate financial reporting. He was slated to succeed Lay as chairman as well in early 2002, but abruptly resigned six months later on 14 August 2001. Court Docket Number: H-04-025-SS. Over the years, as chairman of Enron, he built a team of highly aggressive business and financial executives who were willing to skirt financial reporting requirements by developing off-balance sheet entities to hide Enrons massive debt load from investors and regulators. The famed "golden boy" of Enron, Jeffrey Skilling is back on the Houston energy scene with a new startup. Skilling was not allowed to attend the funeral of his son John Taylor. Persons of the Year 2002: The Whistleblowers., Government Accountability Project. Skilling was born in Pittsburgh, Pennsylvania, and was the second of four children. In exchange for his reduced sentence, he gave up about $42 million. Acting Assistant Attorney General Mythili Raman of the Criminal Division made the announcement after Skilling was resentenced before U.S. District Judge Sim Lake at the U.S. District Court in Houston. He had a daughter and two sons (ages . [30], The trial began on January 30, 2006, in Houston, despite repeated protests from defense attorneys calling for a change in venue on the grounds that "it was impossible to get a fair trial in Houston". In 2013, a federal judge reduced Skillings 24-year prison term to 14 years. At some point, Jeff set up the Performance Review Committee, a bi-annual process in which all the staff members received grades on a scale from 1 to 5 (1 being the highest). Enron made household names of people who were little known outside of business. Feb. 5, 2011 -- John Taylor Skilling, a 20-year-old communications major at Chapman College in Orange, Calif., and the son of imprisoned ex-Enron chief Jeffrey Skilling, was found dead from what police say was a drug overdose. He was named CEO of Enron, replacing Lay, in 2001. Kenneth Lay, the founder of Enron, died of a heart attack while on vacation in Aspen, Colo., three months before his sentencing hearing on six counts of fraud and conspiracy. Hence the negative feedback loop of more accounting ruses leading to a higher stock price and more executive compensation, which required more accounting chicanery to keep the stock buoyed, and so on and so on. Twenty years ago, the rapid rise of Enron once among the most admired companies in the country came to an abrupt end, crashing in what was then the biggest corporate bankruptcy in U.S history. [4], In April 2011, a three-judge panel of the Fifth Circuit Court of Appeals ruled that the verdict would have been the same despite the legal issues being discussed, and Skilling's conviction was confirmed; however, the court ruled Skilling should be resentenced. Skilling, who abruptly resigned as chief executive officer of Enron in August of 2001, just months before it filed for bankruptcy, was arrested in 2004 along with the company's founder, Ken Lay. The Confessions of Andy Fastow. (Subscription required.). For years, Enron had used complicated off-balance sheet entities and special purpose vehicles to hide billions of dollars in losses from failed deals and projects. Caldwell, who obtained the indictments of Fastow and Skilling, and secured the pivotal guilty plea from Fastow, would go on to head the Justice Department's criminal division in the Obama administration. [3], The first challenge by Skilling's defense was whether or not the federal "honest services fraud" statute (title 18 of the United States Code, section 1346) required the government to prove that Skilling's conduct was intended to achieve "private gain" (instead of being intended to advance his employer's interests); and, if not, if this statute is unconstitutionally vague. The Task Force received considerable assistance from the Securities and Exchange Commission. It gives a good message, but he acts like he was a victim of the ambiguity and the accounting rules when in fact he looks for the ambiguity in the rules to force a result that he wants. [49], Dawkins has distanced himself from Enron and Skilling, saying that Skilling misunderstood his book. [27] Then-chairman Kenneth Lay, who previously served as CEO for 15 years, returned as CEO until the company filed for bankruptcy protection during December 2001. "You can follow all the rules, and yet still be committing fraud. In a separate bench trial, he was convicted of an additional four counts of fraud and making false statements. The firms website claims to use a mathematical technique known as stochastic evaluation, explaining, the quantity and quality of data available for individual energy assets demands sophisticated data handling and management capability.. F. Carter Smith | Bloomberg | Getty Images. We may earn commission from links on this page, but we only recommend products we back. Jeffrey Skilling Net Worth 2023: Age, Height, Weight, Wife, Kids, Bio-Wiki. In 1992, Enron became the largest seller of natural gas in North America. Lou Pai was one of Skillings most trusted lieutenants, having been with Enron since 1987, shortly after the founding of the company in 1985. Skilling impressed Kenneth Lay in his capacity as a consultant, and was hired by Lay during 1990 as chairman and chief executive officer of Enron Finance Corp.[19] In 1991, he became the chairman of Enron Gas Services Co., which was a result of the merger of Enron Gas Marketing and Enron Finance Corp. Skilling was named CEO and managing director of Enron Capital and Trade Resources, which was the subsidiary responsible for energy trading and marketing. His sudden resignation after just six months as CEO in 2001 triggered some of the first suspicions about problems at Enron. [31] Enron's bankruptcy, the largest in U.S. history when it was filed during December 2001, cost 20,000 employees their jobs. She takes pride in the fact that there are now protections for corporate whistleblowers, including the Securities and Exchange Commission's robust Office of the Whistleblower created following the 2008 financial crisis. Skilling finished out his sentence in a halfway house and was released in February 2019. Pai suddenly resigned in June 2001, taking an estimated $250 million in stock proceeds with him. In August 2001, amidst the California energy crises, Skilling unexpectedly resigned and sold almost $60 million in Enron shares. The Andersen mistakes led to an increase in diligence among auditors, which is known as the Andersen Effect. The US Supreme Court heard arguments in the appeal of the case March 1, 2010. The company declared bankruptcy in December 2001. He has been the CEO of Enron Corporation. Former Enron Chief Financial Officer Andrew Fastow arrives at FBI headquarters to surrender to agents, Wednesday, Oct. 1, 2002. He pleaded innocent, however, and. We strive for accuracy and fairness.If you see something that doesn't look right,.css-47aoac{-webkit-text-decoration:underline;text-decoration:underline;text-decoration-thickness:0.0625rem;text-decoration-color:inherit;text-underline-offset:0.25rem;color:#A00000;-webkit-transition:all 0.3s ease-in-out;transition:all 0.3s ease-in-out;}.css-47aoac:hover{color:#595959;text-decoration-color:border-link-body-hover;}contact us! His message: even though companies and executives may believe they are following the rules, they could still be breaking the law like he did. State of California, Office of the Attorney General. "[16] This apparently so impressed the interviewer that it secured his place at the school. Former Enron Chief Financial Officer Andrew S. Fastow Indicted for Fraud, Money Laundering, Conspiracy., Federal Bureau of Investigation. During his admissions interview for Harvard, Skilling was asked if he was smart, to which Jeff responded: Skilling earned most of his wealth from working for Enron. Oct. 24, 2006. He is a former American businessman and the former CEO of Enron Corporation, an energy and services firm. Rebecca Mark-Jusbasche, the globetrotting former head of Enron International resigned the year before the company declared bankruptcy over a reported disagreement with Jeff Skilling and Ken Lay about the direction of a water subsidiary she led. According to the Federal Bureau of Prisons, he was scheduled for release on February 21, 2019,[35] but on August 30, 2018 Skilling was released from prison and sent to a halfway house in Texas to serve out his prison sentence. Weissmann was followed as director by Sean Berkowitz, who was the lead prosecutor in the Skilling and Lay trial. He married. Former Enron Chairman Kenneth Lay (l.) and former Enron CEO Jeff Skilling at Enron Headquarters, from Alex Gibney's "Enron: The Smartest Guys in the Room, a Magnolia Pictures release. In a front-page interview with The Wall Street Journal on June 17, 2006, Skilling claimed that he had been melancholic after the Enron bankruptcy and that he had considered suicide, but that his indictment actually ended his depression. It was so entrepreneurial and innovative. [55], Skilling has a daughter and two sons from his first marriage to Susan Long, which ended in divorce in 1997. In 2006, he was Enron founder Kenneth Lay with his wife Linda makes a statement as he leaves the courthouse after being found guilty of all counts in his fraud and conspiracy and bank fraud trials Thursday, May 25, 2006 in Houston. [citation needed] Skilling's main attorney was Daniel Petrocelli, the 52-year-old civil litigator who represented Ron Goldman's father in his successful civil suit against O. J. Simpson for negligent death. He earned his MBA from Harvard Business School in 1979, graduating in the top 5% of his class as a Baker Scholar. The first director of the task force was Leslie Caldwell, who had cut her teeth prosecuting organized crime in Brooklyn, New York, and brought many of the same tactics to the Enron investigation. Skilling was born on November 25, 1953, in Pittsburgh, Pennsylvania. In a separate proceeding, he was also prohibited from ever serving as a director or officer of a public company. That required the various accounting stratagems deployed by Enron, under the primary management of CFO Fastow and with the blessing of CEO Skilling and, later, CEO Lay. A spokesman for the U.S. Bureau of Prisons confirmed to Reuters that Thursday was the date scheduled for Skilling's release but declined to provide further details, citing privacy issues. His acts led to the eventual collapse of Enron Corporation. His youngest child, John Taylor "JT" Skilling, aged 20, was found dead in his Santa Ana, California . At the time, Enrons $63.4 billion in assets was the largest U.S. bankruptcy case in history (later superseded by the 2002 bankruptcy filing by WorldCom). Congress.gov, U.S. Congress. The most apparent answer is the Aug. 1, 2001, famous whistleblower memo sent by Enron Vice President Sherron Watkins to then-CEO Ken Lay, warning him of accounting irregularities that could cause the company to fail. Creative accounting follows required laws and regulations, but capitalizes on loopholes to falsely portray a better financial image of a company. READ MORE: Biography of Charissa Thompson. A lock (LockA locked padlock) or https:// means youve safely connected to the .gov website. Vikki Velasquez is a researcher and writer who has managed, coordinated, and directed various community and nonprofit organizations. Report of Investigation of Enron Corporation and Related Entities Regarding Federal Tax and Compensation Issues, and Policy Recommendations, Page 60 (Page 82 of PDF). Enron, 20 years later: Where are the executives now? SOX also required that accounting and auditing firms maintain greater independence from their clients. I take full responsibility for my actions. [12] In August 2021, Veld LLC filed as a business in the State of Texas. He currently serves as the founder and chairman of Kinder Morgan, stepping down from the CEO role in 2015. He has three children with Susan Long, two sons and a daughter. In a 2008 interview, former Enron CEO said that his biggest fear concerning his prison sentence was missing the opportunity to support my children as they navigated into adulthood.. Compliance, which used to be kind of a back-office function that nobody really paid attention to, became huge," she said. He is known for being imprisoned due to the Enron scandal. Fastow, who created some of Enron's most notorious off-balance-sheet transactions and made millions in the process, eventually pleaded guilty to two fraud counts. Believed that Enron Didn't Need Assets. George Wong | Getty Images News | Getty Images, who created some of Enron's most notorious off-balance-sheet transactions, executive in residence at Texas State University. Learning about this, Dawkins told the media that Jeffrey misunderstood the knowledge provided in the book. 2023 CNBC LLC. [56], In March 2002, Skilling married Rebecca Carter, a former vice president for board communications and board secretary at Enron. . Dawkins has said that he has never advocated selfishness as a means of progression. At the time of the collapse of Enron, Lay was both the chairman and CEO of Enron, having assumed the role of CEO following the abrupt departure of Jeff Skilling after only six months in the same position. After cooperating with prosecutors and pleading guilty to wire and securities fraud, Fastow served five years at a federal prison in Louisiana. Kenneth L. Lay, Ex-Chairman of Enron, Dies.. [43], Experts believed Skilling's best chance was in citing a parallel appeals court decision that had dismissed guilty verdicts on three Merrill Lynch bankers accused of helping Enron to inflate profits. Skilling appealed this new decision to the Supreme Court,[6] but was denied certiorari. in applied science from Southern Methodist University in 1975 and his M.B.A. from Harvard in 1979. The indictments emphasized his probable knowledge of, and likely direct involvement with, the fraudulent transactions within Enron. Together they engaged in a series of accounting maneuvers to keep Enrons massive debt off the companys balance sheet and instead show ever-increasing revenue, pushing the value of their company stock ever higher, which is now known as Enronomics. On February 3, 2011, his youngest son (John Taylor) died of a drug overdose at age 20. He said his decision . Courthouse after the day's proceedings in his fraud and conspiracy trial, April 26, 2006, in Houston, Texas. He was later shifted to a prison in Colorado. Also, the company had over 29,000 employees. That conviction was ultimately vacated on the principle the dead do not have the chance to appeal their verdict. According to the public records available through the Texas Comptroller of Public Accounts, Rebecca Carter, Skilling's wife, is listed as manager of the company. While the most prominent Enron executives have kept a low profile over the past 20 years, some members of the government team that investigated the collapse saw their own careers skyrocket. By virtue of his death, his guilty verdicts were vacated by the courts, and well never know how long a sentence he might have received. Following his departure from Enron, Pai was the founder and former chairman of Element Markets, a renewable energy consulting firm. Lay's daughter Elizabeth, an attorney who worked on his defense team, and son Mark, a former Enron vice president who still works in the energy industry, recalled what they said were multiple firsts at Enron under their father's leadership, in areas including renewable energy, environmental stewardship, and support for minorities and disadvantaged people. P. Terry's burger stand aims to arrive in Houston in 2024, GOP donor tied to Clarence Thomas has given Texas lawmakers $19M, Alien-looking sea creature found on Bolivar beach, Taylor Swift takeover: Dance parties, drinks, trivia in Houston, Report ranks best cities for college grads, Houston ranks No. Enronomics was a fraudulent accounting technique used by criminal executives at long-dead Enron Inc. that involved hiding losses in subsidiary books. Fastow Sentenced to 6 Years., The Seattle Times. Jeffrey Skilling has two sons and one daughter from his first marriage. Before we can get into the fates of the main culprits, it is important to understand the business culture (at least in the C-suite) that prevailed during the periods where the accounting schemes were pursued. He had been named CEO of the company and replaced Kenneth Lay in 2001. (adsbygoogle = window.adsbygoogle || []).push({}); You have entered an incorrect email address! H.R.3763Sarbanes-Oxley Act of 2002., Cornell Law School, Legal Information Institute. Rebecca Mark-Jusbasche reportedly sold her Enron stock for $82.5 million, a prescient move considering 12 months later the stock would be selling for $1 per share. [21] His employees, meanwhile, plotted to keep the price of energy high in California. Jeff Skilling and Rebecca Carter @Getty. Enron had for years operated various schemes to inflate Californias energy prices, selling at high prices and buying at lower prices in an artificially created market that had just been deregulated. [17], After graduation, Skilling became a consultant at McKinsey & Company in the energy and chemical consulting practices. He was the second child of all four children. [8] Jeffrey Skilling was released from federal custody on February 21, 2019, after 12 years in federal prison. She is a FINRA Series 7, 63, and 66 license holder. His youngest child, John Taylor "JT" Skilling, was found dead from a drug overdose at age 20 in his apartment in Santa Ana, California on February 3, 2011. Nonetheless, for years the Department of Justice continued to pursue a case against Ken Lays estate to try and recover the hundreds of millions of dollars he earned through salary and stock sales while at Enron. Today, he too is back in Houston, where he operates a niche financial consulting business. He has consistently maintained his innocence, but he dropped his remaining appeals in 2013 as part of an agreement with the Justice Department that led to his early release from prison. In addition to the prison sentence, Skilling, 59, was ordered to forfeit approximately $42 million to be applied toward restitution for the victims of the fraud at Enron. Skilling was convicted in 2006 on 19 counts, including 12 counts of securities fraud and one count of insider trading. Jeffrey Skilling is a former American businessman and the former CEO of energy and services company, Enron Corporation. Jeffrey Skilling was born on November 25, 1953 (age 69) in Pittsburgh, Pennsylvania, United States. Skilling and many of the company's executives had sold huge portions of their own Enron stock before the bankruptcy filing, making a substantial profit. He was charged in 2006 under several federal criminal charges that led to the financial collapse of his company Enron.. In 1997, he got promoted to CEO of the company. Occupation: He has one younger brother named Tom Skilling, who has worked as a meteorologist at WGN-TV in Chicago. I don't expect you to accept my apology, but you deserve to hear it," he wrote. [3] Sri Srinivasan, a partner at O'Melveny & Myers, was Skilling's Washington defense attorney,[53] and Justice Department lawyer Michael Dreeben argued for the government. Estimates of Skillings remaining net worth range from $500,000 to $1 million. How Enron pioneered technology we take for granted today. [29] They argued that Skilling violated his bond's terms by drinking excessively and failing to report his contact with police to federal pretrial services authorities. He served as president and COO of Enron from 1990 to 1996, before the accounting charades began. In 2014, he was moved to a minimum-security prison in Alabama. Use Next and Previous buttons to navigate. On December 8, 2015, federal judge Melinda Harmon granted summary judgment to the SEC and permanently barred Skilling from serving as an officer or director of a public company. Honestly, I dont know what the drugs were prescribed for., Thats something we will find out later. Lay, the son of a Baptist preacher, built Enron out of a 1985 merger between the former Houston Natural Gas Co. and the Omaha-based energy firm InterNorth. I've never been hired for two-way communication," she said. Twenty years later, the last of the Enron defendants have completed their prison sentences, paid their restitution and have sought to move on with their lives. He was amongst the top five percent of his class. "I believe that what I did was wrong, was unethical, and was illegal. [5] The case in the Fifth Circuit is United States of America v. Jeffrey K. Skilling, 06-20885. Loeb & Loeb LLP. When he was sentenced to 24 years in prison, Jeff also received a fine of $45 million. Who Is Suspected Pentagon Leaker Jack Teixeira? Causey also declined to comment. As a consultant for McKinsey & Company, Skilling worked with Enron during 1987, helping the company create a forward market in natural gas. He married Rebecca Carter, a former Enron executive, in March 2002. An executive in residence at Texas State University, Watkins lectures on her experience at Enron and the warning signs that a company could be another scandal in the making. The government maintained that the judge and the selection process were appropriate. To this day, Enron remains the poster child for accounting malfeasance. Something that was fueled by his belief that the corporation didn't need any assets. U.S. Department of Justice. He quit by 1977 to attend Harvard Business School. Federal Jury Convicts Former Enron Chief Executives Ken Lay, Jeff Skilling on Fraud, Conspiracy and Related Charges., The New York Times. Watkins is currently active on the lecture circuit, covering topics such as corporate ethics and governance as well as the story of her personal experience at Enron. Richard Kinder: The Luckiest Ex-Enron Employee. (Subscription required.). What is Jeff Skillings net worth? June 3 (Reuters) - Former Enron CEO Jeffrey Skilling's stealth energy investment venture has launched, two people familiar with the matter said this week, staffed with former McKinsey & Co.. Disclosure: Comcast is the parent company of both NBC News and CNBC. HOUSTON (CNNMoney.com) - Enron former chief executive Jeffrey Skilling and founder Kenneth Lay were both found guilty Thursday of conspiracy and fraud in the granddaddy of all corporate fraud. In 2001, he was named CEO of Enron. By 2000 Enron was reporting annual revenues of $200 billion, making it one of the largest corporations in the country. There are no awards in his name. The . 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