Jeff Skilling Gets a Ten-Year Shave (off His Sentence)
Well, it wasn't quite free, but it was a pretty good day for Skilling.
Former Enron CEO Jeff Skilling could be released from prison as early as 2017, thanks to a federal judge's approval Friday of a sentencing agreement Skilling and prosecutors hashed out in May, the Chronicle reports.
Skilling "had more than 10 years cut off his 24-year prison sentence" for securities fraud and conspiracy, according to the story. He's been in prison since 2006.
An appeals court vacated Skilling's original sentence in 2011. Under the terms of the May 2013 deal, prosecutors agreed to ask for lower sentencing guidelines in exchange for Skilling's waiving of "all potential challenges to his convictions and sentence." The agreement also frees up Skilling's $40 million in assets, to be paid to Enron's victims.
The agreement also noted that "the investigation and prosecution of the defendant has been ongoing for more than ten years. The Government has invested extraordinary resources into this case during a lengthy investigation, pre-trial litigation, trial, and extensive post-trial litigation before the District Court, the Fifth Circuit Court of Appeals, and the Supreme Court."
Skilling, 59, is incarcerated at a minimum security prison in Colorado.
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