Enron chief could leave prison 10 years early

By Staff | June 21, 2013 | Last updated on June 21, 2013
1 min read

Former Enron CEO Jeffrey Skilling could see 10 years shaved off his 24-year jail sentence, Bloomberg reports.

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“In exchange for a shorter sentence, Skilling agreed to forfeit $45 million, drop his bid for a new trial and end litigation over his 2006 conviction and sentence. The former CEO’s prison term was already set to be reduced by nine years, thanks to a 2011 appellate-court ruling that sentencing guidelines were incorrectly applied in his case,” the report says.

The deal must be approved by a judge; a hearing in U.S. federal court in Houston will take place today.

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The staff of Advisor.ca have been covering news for financial advisors since 1998.