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Ex Enron CEO gets Reduced Sentence

Jeffrey Skilling’s sentence just got trimmed by 10 years

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Jeffrey Skilling Mugshot
Jeffrey Skilling Mugshot

Jeffrey Skilling’s mugshot. (Photo Credit: U.S. Marshal’s Service)

Jeffrey Skilling, the former CEO of Enron learned that he will get out of prison a little early on Friday.


According to Reuters, Skilling’s prison sentence was reduced from 24 to 14 years, after a deal between prosecutors and Skilling’s lawyers. Skilling began his term in 2006, and had constantly tried to get a reduced sentence. According to USA Today, Skilling dropped his right to appeal in exchange for a sentence reduction deal. He will now get out in 2017.

His freedom will come at a cost. Under the deal, Skilling must fork up about $41 million of his fortune, which will be distributed to Enron’s victims. In addition, Skilling must drop his bid for a new trial, and end litigation over his 2006 conviction and sentence, according to Bloomberg.

This will not be a popular decision. According to USA Today, the Enron collapse put over 5,000 people out of a job, erased more than $2 billion in employee pensions, and $60 billion of stock became worthless. U.S. District Judge Simeon Lake, who approved Skilling’s deal, told Reuters, “This is not an easy decision.”

Skilling’s charity may have been a factor in this decision. According to Reuters, he taught English and Spanish to inmates, read to blind inmates, and held a job fair for inmates about to be released. After reading a letter of support from an inmate, Judge Lake said to Skilling, “You’ve made a positive impact on his life and many others, and I applaud you for that effort.”

Skilling may be making a positive impact now, but it is a little too late to repair his image. He will always be remembered for the negative impact he had on his Enron employees. A lot of people are bitter about losing their pensions, and add to the fact that he denied any wrongdoing at his trial, Skilling will probably never be forgiven.

John Bean just completed his junior at the University of Missouri, and expects to graduate in May 2014. John is a journalism major, and is also working on a business minor. He grew up near Chicago, and hopes to become a sportswriter someday. To answer everyone’s question, he prefers the White Sox over the Cubs. John is currently an intern for TheUrbanTwist.com.

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