Sentencing guidelines that had been in effect in federal courts could call for a sentence well in excess of ten years for some convicted CEO’s because sentences would be ratcheted up in accordance with a huge dollar loss in the crimes involved. But the guidelines are no longer mandatory under a recent U.S. Supreme Court ruling, notes George Newhouse, a lawyer at Thelen Reid & Priest. For instance, Newhouse predicts a sentence for Ebbers of somewhere between five and ten years.
“As Sarbanes – Oxley has CEO’s running scared they should wake up. Some CEo’s are scared or in denial, some complain about the high cost of compliance, some cloud the issues, some petition the Supreme Court, but the bottom the American people are fed up” said watchdog organization Household – HSBC Watch.
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Spring of 2006 sees lawmakers bending to the pressure of Sarbanes Oxley complaints. It seems some regard the original driving force for Sarbanes Oxley as a distant memory. As with many important events, watch for a push to ease restrictions, possibly returning us to the environment that caused us to enact Sarbanes Oxley in the first place. For those that don’t want to pay the price it seems the answer is simple — let time pass before finding a sympathetic ear in Washington, then change the rules!