Ex-Enron CEO Jeff Skilling Gets 24 Years
Barring appeal, Jeff Skilling will likely spend the rest of his life behind bars. [Update: Well, maybe not. He’s a month shy of 53 now, so he’d be 77 at the end of a full sentence.]
Jeffrey Skilling was sentenced to 24 years in prison Monday for his role in the fraud at Enron that brought down the nation’s seventh-largest company and came to stand as a symbol for an era of corporate fraud in America. Judge Sim Lake announced the sentence in a packed courtroom in the federal courthouse in Houston.
Skilling was convicted in May on 19 counts of fraud, insider trading and conspiracy while chief executive at Enron. More than 4,000 Enron employees lost their jobs – and many their life savings – when the company declared bankruptcy in December 2001. Investors lost billions.
While that’s more than most murderers get if they haven’t been convicted of previous crimes, it’s arguable that Skilling and company did more damage to society.