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Former Enron CEO released from prison to halfway house

by

AUSTIN Sep 01, 2018 - 12:00 am GMT+3
by Sep 01, 2018 12:00 am

Jeffrey Skilling, the former chief executive officer of Enron who received a 24-year prison sentence for his role in the company's spectacular collapse, has been released from an Alabama prison camp and moved to a halfway house, records from the U.S. Bureau of Prisons showed. The U.S. Bureau of Prisons records listed Skilling as being at a residential re-entry facility in Houston. In May 2006, a jury convicted Skilling of 19 counts of conspiracy, securities fraud, insider trading and lying to auditors for his role in maintaining a facade of success as Enron's energy business crumbled. In 2013, U.S. District Judge Simeon Lake reduced his 24-year jail term to 14 years, accepting a deal struck between prosecutors and Skilling's lawyers to end years of appeals. Under the deal, more than $40 million of Skilling's fortune, which had been frozen since his conviction in 2006, was to be distributed to victims of Enron's collapse. Houston-based Enron's 2001 collapse threw thousands out of work, sparked federal probes and prompted Congress to crack down on corporate accounting abuses.

About the author
Research Associate at Center for Islam and Global Affairs (CIGA) at Istanbul Sabahattin Zaim University
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