Enron's Skilling to Cut 10 Years Off Sentence
Former CEO might be out in 2017
By John Johnson, Newser Staff
Posted May 8, 2013 6:07 PM CDT
In this Oct. 23, 2006, file photo, former Enron CEO Jeff Skilling leaves a federal courthouse in Houston.   (AP Photo/David J. Phillip, File)

(Newser) – Remember the great Enron collapse of 2001? Former CEO Jeffrey Skilling has been in prison for more than six years now on convictions of fraud, conspiracy, and insider trading at the now-defunct energy giant. But freedom might be near, reports the Wall Street Journal. Skilling has struck a deal with prosecutors to lop about a decade off his 24-year sentence. Factor in good behavior, and the 59-year-old could be out in 2017, reports CNBC.

In return, Skilling agrees to drop all of his remaining legal challenges. Among other things, that means he forfeits rights to $40 million of his personal assets that got seized, and that money could then be used to compensate Enron's victims. The agreement must be approved by a judge, but that's expected to happen within weeks.

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Showing 3 of 57 comments
bewilderbeast
May 10, 2013 8:56 AM CDT
Makes sense. I mean we don't punish people for stealing from the common man, fgdnsake! Rich people are ENTITLED to steal from us. It's their RIGHT. Next thing you'll be wanting BANKERS to go to jail. I mean, how crazy is THAT?
JT119
May 9, 2013 10:45 AM CDT
What is missing from this story is the total amount that this guy actually stole, I am wondering if that was intentional on the part of the media, the other part of this story thats not being told is, the part about ken lay who was also indicted with this guy and was sopposed to have died, but the funeral was a closed casket one, no one knows for sure who or what was in that casket to this day,really should not have said no one knows......
greenlantern1
May 9, 2013 10:29 AM CDT
Isn't Neil Bush a brother of George Bush? Wasn't Kenny Lai one of his supporters? How many victims, of ENRON, are gold star mothers? Does it matter?