The former CEO of Enron, Jeffrey Skilling, released into federal custody


Former Enron Corp. CEO Jeffrey Skilling has been released.

Skilling was released Thursday after serving 12 years in prison and six months in a halfway house after being convicted for his actions that led to one of the worst collapses of history companies.

Aged 65, he was sentenced to 24 years in prison in 2006 and fined $ 45 million for several counts of securities fraud, conspiracy and other crimes. In 2013, the sentence was reduced to 14 years.

Enron, in Houston, went bankrupt in 2001 after years of illicit business transactions and accounting tricks that put more than 5,000 people out of work, eliminated more than $ 2 billion in employee pensions and made no worth $ 60 billion in Enron shares.


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