Mostly Cloudy
72°FMostly CloudyFull Forecast

Deal would reduce sentence for Enron's Skilling

Published: Wednesday, May 8, 2013 1:53 p.m. CDT

HOUSTON – Federal prosecutors and attorneys for convicted ex-Enron Corp. CEO Jeffrey Skilling say they have reached an agreement that will reduce the jailed executive's sentence for his role in the energy giant's collapse.

Under an agreement made public Wednesday, Skilling's original sentence of more than 24 years would be reduced to somewhere between 14 and 17½ years. The final decision on the length of the sentence will be made by U.S. District Judge Sim Lake at a June 21 hearing in Houston.

Skilling's attorney Daniel Petrocelli says the agreement "brings certainty and finality to a long, painful process."

Justice Department spokesman Peter Carr says the agreement will allow victims of Enron's collapse to finally receive more than $40 million in restitution they are owed.

Get breaking and town-specific news sent to your phone. Sign up for text alerts from the Daily Chronicle.

Watch Now

Player embeded on all DDC instances for analytics purposes.

Judge Denies Motion to Drop Rifkin Charge

More videos »

Reader Poll

How many remotes do you have in your living room?
Zero
One
Two
Three or more