Former Enron Executive Jeff Skilling sentenced reduced - FOX 26 News | MyFoxHouston

Former Enron Executive Jeff Skilling sentenced reduced

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HOUSTON (FOX 26) -

When former Enron executive Jeffrey Skilling arrived at the federal courthouse Friday morning he didn't know how soon these handcuffs would be coming off.

5:25;"We're going to mark our calendars four years from now when we hope to go pick him up."

Skilling was sentenced to 24 years back in 2006 for his role in the collapse of Enron. It was described as one of the worst cases or corporate fraud the country had seen. Skilling was the former superstar CEO federal investigators say was complicit in the scheme that cost people around the country millions in investments and retirements. Houston attorney Phillip Hilder.

16:30 "I think this is a very good end to the story it adds finality it allows the government to get approximately 41 million to the victims and it ends the appeals process."

It was an appeal that lead to Skilling's reduction in sentencing. When he was first sentenced to 24 years in 2006 there was a technical error. So, the court of appeals kicked it back to the federal judge...by that time Skilling and his legal team came to an aggreement with the government to further reduce the sentence while also giving up $41 million dollars in assets.

7:03 "I think he was greatly relieved..."

Everyone wasn't so happy...a victim of Enron Adrian Peterson read a statement in court saying Skilling should serve the maximum allowed by law. However, the federal judge disagreed...taking into account Skilling's efforts behind bars including mentoring and teaching other inmates. Also the former businessman's youngest son and parents died while he was in prison and he wasn't allowed to attend the funerals.

12:49 "what we sought to achieve....meaningful part of his life as soon as possible."

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