Former Dynegy executive Jamie Olis, convicted of securities fraud last year, would draw 24 to 30 years in prison if the judge sentencing him follows recommendations from federal probation officials, his lawyers say.
The potential sentence raised eyebrows among legal experts, reports the Houston Chronicle. Kirby Behre, a former federal prosecutor and co-author of the book “Federal Sentencing for Business Crimes,” said it would be an “off-the-chart sentence.”
Philip Hilder, a former federal prosecutor and Houston attorney, said 24 to 30 years for Olis would be “extremely high for a white-collar case.”
Olis was convicted of conspiracy, securities fraud, mail fraud and wire fraud.
Probation officials prepare presentencing reports in which they apply federal sentencing guidelines and present judges with recommendations. U.S. District Judge Sim Lake, who will make his own decision, is to sentence Olis on March 25.
A probation report typically isn’t made public, but in this case, elements were revealed in a document filed with the court this week by Olis’ attorneys.