Jeffrey K. Skilling, the former Enron CEO who spent the past 12 years in prison for his role in masterminding one of most notorious corporate fraud cases in history, was released from federal custody on Thursday, the Bureau of Prisons said.
In August, Skilling was released to a halfway house at an undisclosed location from a minimum security federal prison camp in Alabama.
Enron’s collapse cost investors billions of dollars and wiped out the retirement savings and jobs of thousands of employees. Skilling, 65, was convicted of 12 counts of securities fraud, five counts of making false statements to auditors, one count of insider trading and one count of conspiracy in 2006 for his role in hiding debt and orchestrating a web of financial fraud that ended in the Houston company’s bankruptcy.
He was sentenced to 24 years in prison and fined $45 million, the harshest sentence of any former Enron executive. Six years ago, Skilling’s sentence was reduced to 14 years by U.S. District Judge Sim Lake.
See here for more on Skilling’s release to the halfway house last year. One of the conditions of his release then was that he had to get a job, but I’m not able to find any information about what that might have been. If he eventually winds up on the speaking circuit like Andy Fastow, I won’t be surprised. In the meantime, I don’t know what there is to make of this news. He did his time and now he’s out, and we’re all that much older. I wonder how long it will be before we see his name in the news again.