Criminally unfair? Why disgraced Enron CEO Skilling could see freedom sooner than you think
A court is due to resentence Skilling after earlier punishment vcacated.
He cost stakeholders more than $60 billion dollars, and now his prison sentence will soon be reduced. Former Enron CEO Jeffrey Skilling, was sentenced to a 24 year term in prison, but he could see ten years cut off that decision.
Since 2006, Skilling has served his time in a minimum security facility in Littleton, Colorado.
Skilling was originally convicted on 19 counts of conspiracy, fraud, insider trading, and lying to auditors about his involvement in the collapse of Houston based Enron Corp., an energy firm that was well respected and liked by the community until it collapsed.
However, a court ruling in 2009 said that his sentence had to be vacated because it exceeded sentencing guidelines.
Now, Skilling will be re-sentenced and will face 14-17 years. That could see him released in seven years or less, if he is granted parole.
The collapse of Enron wiped out more than $60 billion in stock and $2 billion in employee pensions, leaving many without any retirement savings. Over 5,000 jobs were lost without warning.
Meanwhile, had Skilling merely stolen a $100 from a register at a convenience store at gunpoint, he would likely serve a minimum of 25 years or more in a maximum security facility.
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