...Name of Case: Skilling v. United States Page: 133 Court/Year: U.S. Supreme Court 2010 Facts: The government accused Skilling and other in a wide-ranging scheme to deceive the investing public. Skilling was indicted with more than 25 counts of securities fraud. The government felt that Skilling benefited “profited from the fraudulent scheme” at the time of trial. According to 1346, Skilling did not commit honest-services fraud. Federal district court jury found Skilling guilty of 19 counts including the honest-services-fraud charge and sentenced him to 292 months in prison and ordered him to pay $45 million. U.S. Court of Appeals affirmed the conviction. The Supreme Court granted Skilling’s request that it hears the case. Final verdict: Fifth Circuit’s ruling upholding conspiracy conviction vacated; case remanded for further proceedings. Name of Case: Arthur Andersen LLP v. United States Page: 137 Court/Year: U.S. Supreme Court 2005 Facts: Andersen audited Enron’s publicly filed financial statements and provided internal audit and consulting services to the corporation. Andersen team had allowed Enron to engage in “off-balance-sheet” for accounting purposes so that it reflected positive returns, which is a violation under GAAP. Later, an Andersen partner began to destroy documents when he was instructed not to because it was against the policy. Andersen was indicted for intentionally persuading its employees to destroy documents. They violated Title 18 of the United...
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