Enron’s Skilling to exit prison early if deal approved [View all]
Former Enron CEO Jeff Skilling arrived at the federal courthouse in Houston this morning as he prepares to learn how many years he must remain in prison.
A federal judge in Houston will decide this afternoon whether to accept an agreement between Skilling and federal prosecutors. The deal would shave several years off Skilling's 24-year prison sentence.
Skilling, in turn, is expected to agree to drop his ongoing appeals and surrender any claim on the $40 million that had been seized by the government after his indictment for wire fraud, insider trading, conspiracy and related charges stemming from the 2001 collapse of one of Houston's leading companies.
The agreement between prosecutors and Skilling's attorney was announced last month. That his sentence was going to be reduced was known for some time, as appeals courts ruled that one of the theories of the prosecution was not valid, and that one of the factors used to enhance the length of his sentence was improper. But it was unclear precisely what the sentence would have been as Skilling continued to fight to clear his name of criminal wrongdoing.
More at http://www.chron.com/business/article/Enron-s-Skilling-to-exit-prison-early-if-deal-4614150.php .
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