Better luck next time, Mr. Skilling

We imagine Jeff Skilling is somewhere drowning his sorrows in a Schlitz: Yesterday, U.S. District Judge Sim Lake denied the former Enron CEO's request to overturn his convictions on fraud, conspiracy and insider trading charges. Skilling claimed the evidence presented in his trial earlier this year was insufficient, so his convictions on 19 of 28 charges should be dismissed. Well, nice try anyway, Jeff.

There are other rulings ahead for Skilling, including a request from Skilling's lawyer, Daniel Petrocelli, for a non-jury trial concerning the government's plan to seize millions of dollars of Skilling's cash and property. About $60 million of Skilling's assets have been frozen since he was indicted in February 2004; when Skilling's lawyer Daniel Petrocelli asked last month that the bulk of the frozen funds be released because Skilling was acquitted of nine of 10 insider trading charges, prosecutors responded by seeking a $139.9 million judgment against Skilling (which includes $62.6 million from stock sales, $66.1 million in Enron shares used for payments on stock options and $10 million Skilling got as a bonus in 2001). So Lake has to decide whether a trial will be needed for the government to prove how much of Skilling's money is ill-gotten gains and can be seized. So far, he hasn't responded to the $139.9 million judgment — which Petrocelli says is bogus — or Petrocelli's request for a trial.

Skilling's sentencing has been set for Oct. 23.