Breaking News Emails
Get urgent news alerts and special reports. The news and stories that play a role, delivered everyday mornings.
Jeffrey Skilling, the single head of Enron Corp. who was sentenced to 24 years in prison for his conviction of charges stemming from the company's spectacular collapse, has [1
Skilling, 65, moved in August 2018 from an Alabama Prison camp to a residency resettlement facility in Houston, where Enron was founded before crumbling in bankruptcy in 2001 under the revelations of extensive accounting fraud and corruption.
The energy company disintegration threw thousands of people out of work, kicked federal probes and urged the Congress to break down the company's accounting abuse.
Skilling, who suddenly resigned as CEO of Enron in August 2001, just a few months before being filed for bankruptcy, was arrested in 2004 along with the company's founder, Ken Lay.
A Houston-based jury in May 2006 convicted Skilling of 19 conspiracy kits, securities fraud, insider trading and lie to auditors. In his role as CEO, he maintained a successful phase that Enron's energy supply imploded.
In 2013, a federal judge reduced his 24-year jail to 14 years and accepted an agreement between prosecutors and Skills lawyers to end years of appeals.
Under the agreement, over 40 million of Skilling's wealth, which had been frozen since his conviction was distributed to victims of the system.
Lay was also guilty of several degrees of conspiracy and fraud but died of heart failure six weeks after the end of the trial, at the age of 64, which led to a federal judge throwing his conviction. (Report by Dan Whitcomb Editing by Tom Brown)