Skilling's wheel of fortune turns again

Remember former Enron CEO Jeff Skilling's unusual stroke of good luck when he learned Monday that he wouldn't be sent to jail as scheduled? Well, scratch that: A three-judge panel of the 5th Circuit Court of Appeals decided yesterday that Skilling should report immediately to jail after all. Sucks to be you, Jeff.

In the order, the court indicated its decision earlier this year to overturn convictions in another Enron trial, the Nigerian barge case, created "difficulties" for Skilling's convictions of conspiracy, securities fraud and insider trading.

'Yet Skilling raises no substantial question that is likely to result in the reversal of his convictions on all of the charged counts," the order continues. "We are not then persuaded that any resulting sentence will likely exceed the expected duration of his appeal."

The panel did say there are "serious frailties" in Skilling's May conviction on 19 counts of fraud, conspiracy and insider trading in connection with Enron's collapse, but it noted that it was unlikely all of the convictions would be overturned, a condition that would be required for Skilling to remain free on bond during appeal. Skilling is expected to file his appeal next month, and the AP reports it will likely be based on an argument that the trial of Skilling and co-defendant Ken Lay should have been moved out of Houston and that many witnesses who might have helped Skilling's case were intimidated into not testifying by the government.

Skilling is expected to report to the minimum-security federal prison in Waseca, Minn., today.