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Current Events & Hot Topics Current Events & Hot Topics

Remember Jeff Skilling, serving time in prison for the Enron scandal? He'll be out in about 4 years...

Posted by on Dec. 9, 2013 at 11:28 PM
  • 2 Replies

(MoneyWatch) He can walk early, but not that early. Former Enron CEO Jeffrey Skilling succeeded in getting his prison sentence reduced by 10 years as part of a court-ordered reduction.

U.S. District Judge Sim Lake of the Southern District of Texas announced at a hearing in Houston today that Skilling will serve 14 years. His original conviction called for him to serve 24 years in connection with the collapse of the once high-flying energy trading firm. Under the agreement with federal prosecutors, Skilling could be released as early as 2017.

In seeking to reduce the sentence, the government had emphasized that $40 million in restitution, currently held up as Skilling pursued appeals, would be released to victims. 

http://www.cbsnews.com/news/ex-enron-ceo-jeff-skilling-to-leave-prison-early/

by on Dec. 9, 2013 at 11:28 PM
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stacymomof2
by Ruby Member on Dec. 9, 2013 at 11:42 PM

This was one of the biggest rip-offs of the American public since the S&L scandals.  They bankrupted the state of California with greed, and when all was said and done a few guys walked away with hundreds of millions and workers lost their entire retirements and life plans.  Years of investments by gas and electric workers  into their 401Ks were locked up while the big dogs jumped ship, and after the collapse of the company the workers sold their stock for pennies.  

A huge transfer of weath from the people of California, the workers, other "regular" investors in "safe" blue chip stocks went to like 5 guys.  

Five guys.

jllcali
by on Dec. 10, 2013 at 2:20 AM
"a man with a briefcase can steal more money than any man with a gun"
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