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Thursday
May092013

Former Enron Bigwig May Get Prison Sentence Reduced

F. Carter Smith/Bloomberg News(DENVER) -- Jeffrey Skilling, who became the poster boy for corporate greed more than a decade ago, could be catching a monumental break as he spends time at a low security prison in Denver.

In May 2006, Skilling was convicted in Houston of conspiracy and fraud relating to the collapse of one-time energy giant Enron through a series of shady dealings and crooked bookkeeping.

The crimes were responsible for thousands of people losing their jobs and life-savings.

However, Skilling, who was sentenced to 24 years in prison, could see as much as 10 years lopped off his jail term if a judge approves a deal with prosecutors that would use as much as $40 million of Skilling's forfeited assets as restitution for the victims of Enron's collapse.

Having served seven years already, the 59-year-old former CEO could be out of prison as early as 2017 if the judge approves the arrangement next month.

During his time behind bars, Skilling learned that his 20-year-old son, John Taylor Skilling, died from an apparent drug overdose in February 2011.

Copyright 2013 ABC News Radio







ABC News Radio