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Ex-CEO could see reduced sentence

on May 09, 2013 10:20 AM

HOUSTON (AP) — Convicted ex-Enron Corp. CEO Jeffrey Skilling’s more than 24-year prison sentence for his role in the once-mighty energy giant’s collapse could be reduced by as many as 10 years if a federal judge approves an agreement reached Wednesday between prosecutors and defense attorneys.

Under the agreement, which Justice Department officials say includes a previous court-ordered reduction of as much as nine years, Skilling’s original sentence will be reduced to somewhere between 14 and 17½ years.

The agreement still has to be approved by U.S. District Judge Sim Lake, who is set to hold a June 21 hearing in Houston to make the final decision on the length of Skilling’s sentence.

Justice Department spokesman Peter Carr said the agreement will allow victims of Enron’s collapse to finally receive more than $40 million in restitution.

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