Enron Saga Concludes

After more than a decade of criminal proceedings and appeals, the civil court case against former Enron senior executive Jeffrey K. Skilling for his involvement in the historic fraud has finally concluded. On December 8, 2015, the SEC obtained a summary judgment against Skilling, Enron’s former president and CEO, which permanently barred him from serving as an officer or director of a publicly held company.

Skilling was first convicted in a 2006 criminal trial of one count of conspiracy to commit securities and wire fraud, twelve counts of securities fraud, five counts of false statements to auditors, and one count of insider trading. He was sentenced to 292 months in prison and assessed $45 million in restitution. After an appeal in 2013, Skilling agreed to waive future challenges and to forfeit property in exchange for a 14 year prison sentence, three years of supervised release, and $42 million in restitution, which was collected from the seizure and liquidation of his assets.

According to Reuters, Skilling is currently serving out his sentence in a minimum security prison in Alabama, and is set for release in 2019.