Ex-Enron CEO Has Prison Sentence Reduced
Skilling, the highest-ranking employee to be convicted for Enron’s illicit business deals that preceded its collapse, has been incarcerated since 2006, according to CNBC. Originally serving a sentence of 24 years, an appeals court vacated his prison term in 2009, which resulted in a shortened sentence of nine years. The appeals court found that U.S. District Judge Simeon Lake, who presided over Skilling’s original trial, had wrongly added years to his sentence because Skilling’s actions had jeopardized a financial institution.
Skilling’s resentencing was pending since 2009 as he unsuccessfully fought to overturn his conviction.
In an effort to resolve a case that has been going on for over 10 years, the Justice Department agreed to knock off an additional 20 months which — added to the nine year reduction from the appeals court — resulted in the total 10 being taken off Skilling’s sentence.