Reyes - Part III
I'm about to get to give a big fat "told you so" shortly, it looks like. On December 07, 2007 Judge Charles R. Breyer of San Francisco (and brother of Supreme Court Justice Stephen Breyer) unsealed a November order which effectively bitch slapped (legal term, stems from England, I believe) the prosecution in the Reyes case. The judge said the government effectively failed to prove that anyone "lost" anything attributable to Reyes, and as such he now is looking at a possible sentence ranging from 15-21 months in an Armani federal penitentiary and mens club - a tad less than the government's recommendation of 292-365 months.
Don't get me wrong, I don't want to go to any prison, regardless of the fine china, and I'm pretty sure Reyes doesn't either - but this ruling had to make him feel like he just won the lottery (again). 20 years to 20 months is a serious victory.
Now, where I'm about to be right in all of this is as follows - Reyes filed a subsequent appeal for dismissal or a new trial based on the fact that the ONLY witness from the Brocade finance department called by the prosecution - and who is ALL over the government's major arguments in the transcripts - has come forward and recanted her testimony. There is a much better running version of the story in the LegalPad blog in Fortune Magazine that will quickly summarize the issues.
The government is to be held to the highest possible standard or our system simply doesn't work. The Duke lacross case was a nasty blemish but appears to be the overzealous acts of a single state prosecutor. This case is different. This is a federal case with huge global repercussions and it looks to me like this was a case of justice gone very wrong. I am on the record saying let Reyes fry, that if he cheated, stole, and prospered then he deserves what he gets - but as the facts come to light, and they are coming, it is now clear to anyone with a stitch of common sense that this was a railroading from day one.
Reyes was unfairly persecuted in what appears to be not only unethical, but probably also an illegal way. He was the poster boy for arrogance and greed and became the silicon valley symbol of excess in the post Bernie Ebbers-Ken Lay dirt bag times that turned every CEO into a criminal in the publics eye. Greg was too good looking, too rich, and too stinking charismatic for the government to let slide. So instead of fighting the good fight, it looks to me (and now others) that they cheated.
I don't care if you like the guy, hate the guy, or don't care either way - the fact is the government was absolutely ready to send a 40 something father of two little kids to prison for 20 years for a crime that wasn't a crime, who didn't profit from the act, and who's only real possible victim - the stockholders - had zero negative impact. (Jason Gold managed the fund that owned more Brocade stock than anyone else and he testified that no one cared about option accounting practices). I'm all for upholding the law and setting a standard that must be met, but this is the kind of garbage you'd expect from a bitter x-girlfriend or from the geek who got his butt kicked by the dumb jocks in high school, suddenly in a position of power and getting even with everyone who ever gave him a wedgie by focusing all his blind rage on Reyes, as if that would make the nightmares stop.
I'll bet you a buck he gets a new trial or the judge tosses the whole charade IF and when the prosecutor grants the witness immunity from perjury. Which makes one wonder, why hasn't the prosecutor responded to this news? Not a peep. Your star witness recants, and you don't even comment? Come on now......
Most of the reasonable and thinking people who have bothered to look at this situation without prejudice have realized for some time that it was never about Greg Reyes. Its been about the easy target of 'corporate greed' and Greg has been the bullseye that the government needed to hit. They should have targeted someone else...Greg's one guy who has the integrity and character to thwart this new type of McCarthyism.
-----Perhaps, but who else to target but the face of corporate greed??? I don't blame the government for making Greg the example, hell, he basically spit in their eye and made fun of their kids - but do it above board - you are the government for the love of......Steve
Posted by: John Metzler | January 04, 2008 at 03:09 PM