Jeffrey Skilling, former Enron Corp. CEO, is reportedly in talks with the U.S. Department of Justice (DOJ) to reduce the 24-year prison sentence he received in 2006 after being convicted for his role in the Enron financial statement fraud case, resulting in the bankruptcy of the world’s largest energy trader.
The government recently issued a notice to thousands of former Enron employees and shareholders asking them to respond if they want to share their views related to a possible new sentence in court.
There are numerous theories swirling around why the government is considering a reduced sentence, including:
- Problems with evidence should Skilling be granted a new trial (he has been given until May 28 to file a request for a new trial)
- A possible tactic to speed up restitution to Enron victims
- Just “routine housekeeping” discussions related to a disputed sentencing matter
Skilling has been challenging his conviction for five years.
According to the Notice to Enron Employees, Stockholders, and Other Victims issued by the DOJ on April 3, victims have until April 17, 2013, to notify the DOJ or the court of their views and exercise their right to be heard. The full notice can be accessed here.
According to the U.S. Bureau of Prisons, Skilling’s release is scheduled for February 21, 2028, which would make him 74 when he is released.
The full story published by Bloomberg at 11 p.m. Central time Thursday, April 4, 2013 can be accessed by clicking here.