Sponsored by: Investment Center

Something new in your business?  Click here to submit your business press release

Chamber Corner | Main Street News | Job Hunt | Classifieds | Calendar | Illinois Lottery 

Ex-Enron CEO Skilling awaits reduction of sentence

[June 22, 2013]  HOUSTON (AP) -- Ex-Enron Corp. CEO Jeffrey Skilling, already in prison for his role in the once mighty energy giant's collapse, is set to learn if his more than 24-year prison sentence could be reduced by as many as 10 years.

Skilling is to be resentenced Friday during a federal court hearing in Houston. His original sentence is expected to be reduced to between 14 and 17.5 years.

His resentencing is part of a court-ordered reduction of his prison term and a separate agreement with prosecutors that will allow for the distribution of around $41 million in restitution to victims of Enron's collapse.

Some Enron victims are expected to speak during the resentencing hearing.

Skilling, the highest ranking Enron official convicted for the Houston-based company's downfall, has been in prison since 2006.

[Associated Press; By JUAN A. LOZANO]

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.