Jeffrey K. Skilling, the former Enron CEO sentenced to a long prison term for his role in one of most notorious corporate fraud cases in history, was recently released from a minimum security federal prison camp in Alabama to a halfway house at an undisclosed location.
Enron’s spectacular collapse cost investors billions of dollars and wiped out the retirement savings — not to mention the jobs — of thousands of employees. Skilling, 64, 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. Five years ago, Skilling’s sentence was reduced to 14 years by U.S. District Judge Sim Lake. He is scheduled to be released Feb. 21, 2018, according to the Bureau of Prisons.
Federal prisoners are often released from prison several months early to a halfway house, a highly restricted dormitory-like setting that helps inmates ease back into society. They must maintain curfews, find work and stay out of trouble. A. Kelley, assistant residential re-entry manager for the Bureau of Prisons in San Antonio, said the bureau would not say where Skilling is living.
Been while since there was Enron news. The last post I have is this Andy Fastow update from 2015, and before that this story about Skilling’s sentence being reduced from 2013. Apparently, as part of the early release (I presume they mean 2019 in the story), Skilling has to get a job. One can only imagine the possibilities. I don’t have anything else to add here, just that this is the end of an era of sorts.