Enron CEO Freed After Serving Only Half His Sentence

Jeffrey Skilling (center).Screengrab/KPRC 2 Click2Houston/YouTube

Former Enron CEO Jeffrey Skilling was released from prison after serving just 12 years of his original 24-year sentence.

Former Enron CEO Jeffrey Skilling was released from prison after serving only half of his sentence, according to Chron. In 2006, Skilling was "convicted of 12 counts of securities fraud, five counts of making false statements to auditors, one count of insider trading and one count of conspiracy" for his role in conducting the largest case of corporate fraud in world history. The financial fraud ended in the bankruptcy of the Houston company.

Although he was fined $45 million and sentenced to 24 years in prison, he was released after only 12 years. Six years ago his sentence was reduced to 14 years by U.S. District Judge Sim Lake.

Skilling was released to a halfway house in August after leaving his Alabama minimum security federal prison camp.

Kenneth Lay, former Enron chairman, was also found guilty of wire fraud, securities fraud, bank fraud, and making false statements to banks. Lay founded Enron in 1985 when he merged two natural gas pipelines. He was never sentenced, as he died of a heart attack while he was free on bond.

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Paul T.S.
Paul T.S.

....and was conveniently "cremated."