Enron boss could see sentence cut
Convicted ex-Enron boss Jeffrey Skilling’s more than 24-year jail term for his role in the once mighty energy giant’s collapse could be reduced by as many as 10 years if a judge approves an agreement between prosecutors and defence lawyers.
Under the agreement, which US Justice Department officials say includes a previous court-ordered reduction of as much as nine years, Skilling’s original sentence will be reduced to somewhere between 14 and 17½ years.
It will also allow victims of Enron’s collapse to finally receive more than $40m (€30.5m) in compensation.
Skilling was convicted in 2006 on 19 counts of conspiracy, securities fraud, insider trading and lying to auditors for his role in the downfall of Houston, Texas-based Enron.
The company collapsed into bankruptcy in 2001 under the weight of years of illicit business deals and accounting tricks.
