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Former Enron CEO Skilling’s sentence cut to 14 years

Posted By kit On June 21, 2013 @ 3:20 pm In Economic Crisis | Comments Disabled

Kristen Hays and Anna Driver
Reuters
June 21, 2013

Former Enron Corp Chief Executive Jeffrey Skilling’s near decade-long quest to prove he did nothing wrong at the once high-flying energy-trading behemoth ended on Friday when a federal judge shaved 10 years off of his prison sentence.

U.S. District Judge Simeon Lake reduced his term to 14 years from 24 years, accepting a deal struck between prosecutors and Skilling’s lawyers that will end years of appeals.

Under the deal, more than $40 million of Skilling’s fortune, which has been frozen since his conviction in 2006, will be distributed to victims of Enron’s collapse.

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