The Skilling to Pay the Billing
It says in The New York Times today that the death yesterday of Enron's Ken Lay will likely keep the government from seizing his real estate and financial assets, thus sparing his survivors financial ruin--and, one assumes, even further humiliation. That means the feds will likely turn their full attention to Lay's partner in crime, Jeffrey K. Skilling, whose stuff the government now wants in order to finally and fully punish him after he and Lay were found guilty of fraud and conspiracy in May. And it turns out Skilling has a lot to seize, says The Times, including "more than $50 million in cash and securities in a Charles Schwab account, $4.6 million in value at his 9,000-square-foot home in Houston and a condominium worth nearly $580,000 in Dallas, according to the government's forfeiture documents."
Wait, Jeff Skilling has a place in Dallas? Did not know that. But, yup, says here on the Dallas County Appraisal District's Web site that Skilling does indeed keep a place in the 1999 McKinney Avenue Lofts (Suite 1008, to be specific, since it'll likely be on the market real soon) in downtown. And turns out the government does not know how much the place is worth: DCAD says it's actually worth $702,300, or $180,000 more than it was worth when last valued in 2004. Skilling--who shares attorney Daniel Petrocelli with another Dallas resident, Don Henley, who's being sued by former Eagle Don Felder in Los Angeles--has had the place on McKinney for at least three years, and it's a shame he won't get to enjoy it now that next-door neighbor Victory Park's finally up and running. There goes our lunch at Craft. --Robert Wilonsky
Get the This Week's Top Stories Newsletter
Every week we collect the latest news, music and arts stories — along with film and food reviews and the best things to do this week — so that you'll never miss Observer's biggest stories.