Former Enron CEO Jeffrey Skilling released from federal custody
By Dan Whitcomb (Reuters) - Jeffrey Skilling, the onetime chief of Enron Corp who was sentenced to 24 years in prison for his conviction on charges stemming from the company’s spectacular collapse, has been released from federal custody, the Houston Chronicle reported on Thursday. A spokesman for the U.S. Bureau of Prisons confirmed to Reuters that Thursday was the date scheduled for Skilling's release but declined to provide further details, citing privacy issues.
By Dan Whitcomb
(Reuters) - Jeffrey Skilling, the onetime chief of Enron Corp who was sentenced to 24 years in prison for his conviction on charges stemming from the company’s spectacular collapse, has been released from federal custody, the Houston Chronicle reported on Thursday.
A spokesman for the U.S. Bureau of Prisons confirmed to Reuters that Thursday was the date scheduled for Skilling's release but declined to provide further details, citing privacy issues.
Skilling, 65, was moved in August 2018 from an Alabama prison camp to a residential re-entry facility in Houston, where Enron was based before crumbling into bankruptcy in 2001 amid revelations of widespread accounting fraud and corruption.
The energy company's disintegration threw thousands out of people out of work, sparked federal probes and prompted Congress to crack down on corporate accounting abuses.
Skilling, who abruptly resigned as chief executive officer of Enron in August of 2001, just months before it filed for bankruptcy, was arrested in 2004 along with the company's founder, Ken Lay.
A Houston-based jury in May 2006 convicted Skilling of 19 counts of conspiracy, securities fraud, insider trading and lying to auditors. In his role as CEO he maintained a facade of success as Enron’s energy business imploded.
In 2013, a federal judge reduced his 24-year prison term to 14 years, accepting an agreement between prosecutors and Skilling’s lawyers to end years of appeals.
Under the deal, more than $40 million of Skilling’s fortune, which had been frozen since his conviction was to be distributed to victims of the scheme.
Lay was also was found guilty of multiple counts of conspiracy and fraud but died of heart failure six weeks after the trial ended, at the age of 64, prompting a federal judge to throw out his conviction.
(Reporting by Dan Whitcomb; Editing by Tom Brown)
This story has not been edited by Firstpost staff and is generated by auto-feed.
Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.
MOSCOW (Reuters) - Russian President Vladimir Putin said on Wednesday he had noted what he called "sharp anti-Russian rhetoric" from U.S. Democratic presidential candidate Joe Biden, but that he had been encouraged by Biden's comments on arms control. Putin, in comments on state television ahead of the U.S.
By John Irish and Robin Emmott PARIS/BRUSSELS (Reuters) - France and Germany said on Wednesday they would propose European Union sanctions against Russian individuals after receiving no credible answers from Moscow over the poisoning of Kremlin critic Alexei Navalny with a nerve agent. Several Western governments have said Russia, which has denied accusations by Navalny that it was involved in the poisoning, must help in investigations or face consequences. The decision and speed with which Europe's two main powers agreed to push ahead with sanctions suggests a hardening of the bloc's diplomacy towards Moscow.
By Steve Holland WASHINGTON (Reuters) - U.S. President Donald Trump, under coronavirus quarantine in the White House and restricted from traveling, is seeking ways to put a spark back in his struggling re-election bid and get behind his desk in the Oval Office with four weeks left until Election Day.