Justice is Not Dead – Yet

Posted on 26. May, 2006 by in Fraud & Scams, News

enronverdict.jpgIt just goes to show you: if you’re the head of the nation’s 7th largest company and your company is labeled as the biggest fraud scandal ever with over $60 BILLION lost and you try and plead ignorance, the good people of America are not going to listen to your crap.

If you haven’t heard already, a federal judge and jury passed judgment on former Enron Corp. chiefs Kenneth Lay and Jeffrey Skilling Thursday, finding them guilty of fraud and conspiracy in one of the biggest business scandals in U.S. history.

What bothers me the most about this trial and its outcome is the fact that everyone is labeling it a “victory for the Government.” It should be labeled a victory for American investors! For so long white-collar crime such as fruad has not been persecuted and the investors are the ones who ultimately lose – not the government. The investors are the ones who must wait for their company to post sales 10x normal just to recover the amount of cash taken by fraudsters. The investors are the ones who, when cheated and swindled (yeah, I can’t believe I used that word either), are forced to listen to lame and pathetic excuses from men and women who claim ignorance and yet two breaths earlier report that they are the most powerful man in the company and worth every penny of his $30 million salary.

No, this victory is the investors’. And now they should feel more comfortable in prosecuting – and winning – fraud cases such as this because the American people are slowly becoming aware of accounting fraud and what it means to you and me. And the lack of knowledge of what is right and wrong in the accounting world is what has kept people like Skilling and Lay free for so long. But hopefully not any more…

One Response to “Justice is Not Dead – Yet”

  1. nick martini

    26. May, 2006

    Yeah, I’d hold off on the party throwing until he actually goes to jail. I predict pardons or ‘time served.’

Leave a Reply