Houston Chronicle By L.M. Sixel 8/31/2018
Jeffrey K. Skilling, the former Enron CEO sentenced to a long prison term for his role in one of most notorious corporate fraud cases in history, was recently released from a minimum security federal prison camp in Alabama to a halfway house at an undisclosed location.
Enron's spectacular collapse cost investors billions of dollars and wiped out the retirement savings — not to mention the jobs — of thousands of employees. Skilling, 64, was convicted of 12 counts of securities fraud, five counts of making false statements to auditors, one count of insider trading and one count of conspiracy in 2006 for his role in hiding debt and orchestrating a web of financial fraud that ended in the Houston company's bankruptcy.
He was sentenced to 24 years in prison and fined $45 million, the harshest sentence of any former Enron executive. Five years ago, Skilling's sentence was reduced to 14 years by U.S. District Judge Sim Lake. He is scheduled to be released Feb. 21, 2019, according to the Bureau of Prisons.
---The Enron scandal destroyed what was once one of Houston's hottest companies and in many ways brought to an end to the boom of the 1990s, when accounting tricks and hype helped drive the stock market higher. It led to widespread financial and accounting reforms that reined in many of the questionable practices on Wall Street, such as analysts promoting companies that their investment bankers were preparing for initial public stock offerings.
More:
https://www.chron.com/business/energy/article/Skilling-out-of-prison-sent-to-halfway-house-in-13194674.php
