HOUSTON – Former Enron Corp., CEO Jeffrey Skilling, was released from federal prison.
Skilling was emptied on Thursday after serving 12 years in prison and six months in a halfway house after being convicted of his actions leading to one of the worst corporate meltdowns in history.
The 65-year-old was first sentenced in 2006 to 24 years in prison and fined 45 million dollars for several counts of 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 rendered worthless $ 60 billion in Enron stock.