Jeffrey Skilling, Former Enron Boss, Released From Prison to Halfway House
Headed up the company during its spectacular 2001 collapse.
Reuters / Tim Johnson
Jeffrey Skilling, the former Enron CEO who was sentenced to 24 years in prison for his role in the company’s collapse, has been released from an Alabama prison camp and moved to a halfway house. In May 2006, a jury convicted Skilling of 19 counts of conspiracy, securities fraud, insider trading, and lying to auditors. His 24-year prison term was later scaled down to 14 after he agreed to distribute $40 million of his personal fortune to victims of Enron’s collapse. The company’s collapse in 2001 cost thousands of people their jobs and retirement savings, and prompted Congress to crack down on corporate abuses. Skilling had been serving his time in a minimum-security prison camp in Montgomery, Alabama—he's now been moved on to a residential re-entry facility in Houston.
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