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Enron scams Jeffrey Skilling freed from Texas halfway after 12 years behind bars | Courts



Former Enron Corp., CEO Jeffrey Skilling, has been released from federal imprisonment for more than a decade behind bars.

Skilling, convicted in 2006 of one of the worst corporate melting fields in history, was freed Thursday after 12 years in a mini-security community in Alabama and six months in a halfway in Texas.

Skilling, now 65, was sentenced to 24 years in prison and fined $ 45 million for multiple counts of security fraud, conspiracy and other crimes. In 2013, the sentence was reduced to 14 years.

Houston-based Enron collapsed in bankruptcy in 2001 after years of illegal business travel and accounting tricks that beat over 5,000 people out of work, eliminating over $ 2 billion in employee pensions and making worthless $ 60 billion in the Enron stock.

From The Associated Press

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