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Ex-Enron CEO Jeffrey Skilling released from federal custody

1 year 8 months 3 days ago Thursday, February 21 2019 Feb 21, 2019 February 21, 2019 4:36 PM February 21, 2019 in News - AP Texas Headlines

HOUSTON (AP) - Former Enron Corp. CEO Jeffrey Skilling has been released from federal custody.

Skilling was discharged Thursday after serving 12 years in prison and six months in a halfway house after being convicted for his actions that led to one of the worst corporate meltdowns in history.

The 65-year-old was initially sentenced in 2006 to 24 years in prison and fined $45 million for multiple counts of securities fraud, conspiracy and other crimes. In 2013, the sentence was reduced to 14 years.

Houston-based Enron collapsed into bankruptcy in 2001 after years of illicit business deals and accounting tricks that put more than 5,000 people out of work, eliminated over $2 billion in employee pensions and rendered worthless $60 billion in Enron stock.

Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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