Attorney predicts exoneration for former Enron CEO

Former Enron CEO Jeff Skilling, left, and his attorney Daniel Petrocelli, right leave the federal courthouse after Skilling was sentenced to 292 months in federal prison Monday, Oct. 23, 2006 in Houston. Skilling was convicted in May of 19 counts of fraud, conspiracy, insider trading and lying to auditors. (AP Photo/David J. Phillip)

June 24, 2010 3:26:31 PM PDT
Jeffrey Skilling's attorney says he and the former Enron CEO are thrilled with a U.S. Supreme Court ruling that curtails prosecutors' use of an anti-fraud law central to Skilling's conviction and imprisonment. Daniel Petrocelli says the decision Thursday "paves the way for a reversal of the convictions" and for a complete exoneration. He also tells The Associated Press that when Skilling's case returns to the 5th U.S. Circuit Court of Appeals in New Orleans, he'll move to have the appeals court overturn all 19 of Skilling's convictions.

Petrocelli says prosecutors relied heavily on the theory that Skilling fraudulently didn't render honest services and led to the implosion of the former Houston-based energy trading giant. He says that theory, which the justices discredited Thursday, taints all of Skilling's 19 convictions.