Court docs: Enron convict Jeffrey Skilling reaches deal to be released early from prison

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Jeffrey Skilling

Remember former Enron CEO Jeffrey Skilling (aka inmate #29296-179)? I wish I didn't. He was supposed to spend 24 years in prison for the Enron mess, but under a deal he's reached, that could be cut by ten years, according to court documents. He had 15 years left to serve. But apparently, not any more.

He was convicted in December 2006 for fraud, conspiracy, insider trading and lying to auditors in the largest corporate fraud in history.

CNN:

"The agreement brings certainty and finality to a long painful process," said Skilling lawyer Daniel Petrocelli of O'Melveny & Myers. "Although the recommended sentence for Jeff would still be more than double any other Enron defendant, all of whom have long been out of prison, Jeff would at least have the chance of getting back a meaningful part of his life."

What, his life wasn't meaningful when he committed those many crimes? What about all the people who were affected by his fraudulent acts and lies? Will they get a meaningful part of their lives back? Their jobs? Their life savings?

More than 4,000 Enron employees lost their jobs, and many also lost their life savings, when the Texas-based energy company declared bankruptcy in 2001. Investors lost billions of dollars.

Part of the deal is that Skilling has to drop any further legal challenges to his conviction.

How about dropping off the edge of a cliff instead?

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  • gc.wall

    Energy speculators had a great time when they increased the cost of energy to California that increased its debt to $30 million. California public officials thought that they were being taken for a ride through market manipulation, but the consensus was that the dramatic rise in the cost of energy was only the invisible hand of the "free market". It seemed that California's leaders believed they were taken fair and square, so were responsible for the outrageously priced energy.

  • http://www.blondetwit.com/ Blondetwit

    Me too - so glad! It wasn't by anything that I suspected, other than, I was in "the biz" at that time, and was horrified that they could possibly be invested in such a manner. Stockbroker my folks had for more than FORTY years. I have no doubt that he was paid handsomely as likely the attorney as well...but then, it probably didn't make up for what I'm pretty sure they must have lost...I know they were invested there as well. It's horribly sad for most...

  • http://twitter.com/KatyKay5 Katy Kay

    So glad you fought and won to get your parents' $$ out of Enron, just in time, first I have heard of someone who didn't get sliced and diced by those robbers. Bet your mom is eternally thankful for your action.

  • http://twitter.com/KatyKay5 Katy Kay

    Love the "dead carp" image, perfect. Thanks.

  • http://twitter.com/KatyKay5 Katy Kay

    Same ole, same ole, one law for the Giants, Wall Street, Corporate Robbers, and Rich, and another for for The People. Many of The People, however, are making strides in changing this. While we don't have the momentum of Arab Spring in U.S. and the struggle will be a long one, We Shall Overcome, one day.

  • http://twitter.com/Aqua_Buddah Jason Rowe

    Dear President Obama: Please enact martial law for one second & have someone slap Jeffrey Skilling w/a dead carp; We're sick of corporate criminals getting off easy. TYVM. =D

  • http://www.blondetwit.com/ Blondetwit

    This just freakin' burns me. With an extraordinarily grateful heart, right after my father died, I took "their" money out of Enron stock...which their stockbroker had them nearly completely invested in...in fact, more than 70% directly, and the remaining 30% was entirely in funds CONTAINING Enron. That transaction (that I fought the stock broker and my late father's attorney to complete, I might add. They tried to label me a "spendthrift", which obviously I was not) was completed merely 72 hours before the meltdown began. I cannot begin to imagine what it would have been like had she lost everything. My heavy heart has always gone out to those who didn't get out.

    Skilling devastated lives. He should never have the opportunity to have one. Ever.