Ex-Enron CEO Negotiates Early Release with US Justice Department

CNBC has reported that the former CEO of Enron, Jeff Skilling, is currently in talks with the Department of Justice to formulate an agreement that may see him released from jail early.

Skilling has already served six years of his 24 year sentence after he was convicted for his involvement in the epic collapse of the energy giant in 2001. He was found guilty of conspiracy, fraud, and inside trading in 2006.

CNBC claim that the US Justice Department discretely sent a note the victims of the Enron case advising them about the talks with Skilling and his lawyers.

“The Department of Justice is considering entering into a sentencing agreement with the defendant in this matter. Such a sentencing agreement could restrict the parties and the Court from recommending, arguing for, or imposing certain sentences or conditions of confinement. It could also restrict the parties from challenging certain issues on appeal, including the sentence ultimately imposed by the Court at a future sentencing hearing.”

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Judge Sim Lake has held private conference calls with attorneys from both sides of the case as they try to strike a deal. Skilling has been waiting for a re-sentence after the 5th US Circuit Court of Appeals in 2009 ruled that his original sentencing was too harsh and had not applied the federal sentencing guidelines appropriately.

Legal experts have speculated that the term of the sentence might be reduced to 15 years, this would still leave him stuck in jail for fair few years more though.

By. Charles Kennedy of Oilprice.com