Carl Icahn
American businessman
Jeffrey Skilling
former CEO of Enron Corporation
Jeffrey Skilling was the CEO of Enron during the company’s collapse. He was convicted of federal felony charges related to the Enron scandal and sentenced to 24 years in prison, which was later reduced to 14 years after a deal with the Department of Justice. Skilling served 12 years in prison and was released in 2019.
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About the Jeffrey Skilling
Jeffrey Keith Skillingis an American businessman who in 2006 was convicted of federal felony charges relating to the Enron scandal. Skilling, who was CEO of Enron during the company’s collapse, was eventually sentenced to 24 years in prison, of which he served 12 after multiple appeals.
Skilling was indicted on 35 counts of crimes related to the Enron scandal. In 2006 he was found guilty of conspiracy, insider trading, making false statements, and securities fraud. He was sentenced to 24 years in prison and fined $45 million.
The US Supreme Court heard arguments in the appeal of the case in 2010, vacated part of Skilling’s conviction, and transferred the case back to the lower court for resentencing.
In 2011, a three-judge panel of the Fifth Circuit Court of Appeals ruled that the verdict would have been the same despite the legal issues being discussed, and Skilling’s conviction was confirmed; however, the court ruled Skilling should be resentenced. Skilling appealed this new decision to the Supreme Court, but the appeal was denied.
In 2013, following a further appeal, and earlier accusations that prosecutors had concealed evidence from Skilling’s lawyers prior to his trial, the United States Department of Justice reached a deal with Skilling, which resulted in ten years being cut from his sentence, reducing it to 14 years. He was moved to a halfway house in 2018 and released from custody in 2019, after serving 12 years.
Frequently Asked Questions
Jeffrey Skilling was the CEO of Enron during the company’s collapse, and was convicted of federal felony charges related to the Enron scandal.
Jeffrey Skilling was originally sentenced to 24 years in prison for his role in the Enron scandal.
After multiple appeals and a deal with the Department of Justice, Jeffrey Skilling’s sentence was reduced to 14 years, and he served 12 years in prison before being released in 2019.
Jeffrey Skilling was found guilty of conspiracy, insider trading, making false statements, and securities fraud related to the Enron scandal.
The US Supreme Court heard arguments in the appeal of Jeffrey Skilling’s case in 2010, vacated part of his conviction, and transferred the case back to the lower court for resentencing.
In 2011, a three-judge panel of the Fifth Circuit Court of Appeals ruled that the verdict against Jeffrey Skilling would have been the same despite the legal issues being discussed, and his conviction was confirmed.
After further appeals and a deal with the Department of Justice, Jeffrey Skilling’s sentence was ultimately reduced to 14 years, and he was released from custody in 2019 after serving 12 years in prison.
13 Quotes by Jeffrey Skilling
- 1.
I think we had made some tremendous progress in the six months before I left.
Jeffrey Skillingformer CEO of Enron Corporation
- 2.
Was I believer in Enron Corporation? Yes, sir, I was.
Jeffrey Skillingformer CEO of Enron Corporation
- 3.
It was a very difficult 10 years of very hard work.
Jeffrey Skillingformer CEO of Enron Corporation
- 4.
Are the things that now, in retrospect, with what I’ve seen happen to my company, would I have done some things differently? I think – I think we all would do – we would do a number of things differently.
Jeffrey Skillingformer CEO of Enron Corporation
- 5.
In the fall of the year 2000, there just happened to be a decision point when they asked me to become Chief Executive Officer of the company. It was a time when, as you remember, we were starting to have some real problems in the California energy markets.
Jeffrey Skillingformer CEO of Enron Corporation
- 6.
I sold some shares, but on a net basis, significantly increased my ownership.
Jeffrey Skillingformer CEO of Enron Corporation
- 7.
Well, as we built the business in the 1990’s, as I said, I enjoyed that.
Jeffrey Skillingformer CEO of Enron Corporation
- 8.
We built that into a wholesale business that became, really, one of the largest companies in the United States. We had success in building new markets, opening markets for competition, and that takes a personal toll.
Jeffrey Skillingformer CEO of Enron Corporation
- 9.
Well, actually, I had been working as a consultant to former companies of Enron, or predecessor companies of Enron and, so, I joined in 1990 to really start our wholesale merchant business.
Jeffrey Skillingformer CEO of Enron Corporation
- 10.
We were building a – what I thought was a fantastic company. We had great people. We were changing – we were changing the way the marketplace operated. We were creating a market for natural gas and electricity that had never existed before.
Jeffrey Skillingformer CEO of Enron Corporation
- 11.
I thought the stock was a great buy. I think anybody that bought the stock in 1999 was – saw over the next couple of years a strong growth. During the year of 1999, I significantly increased my ownership of shares in the company.
Jeffrey Skillingformer CEO of Enron Corporation
- 12.
Larry, I spent probably most of my professional life helping to build Enron Corporation. I don’t think there was anyone that was as shocked by the – by the collapse of the company as I was.
Jeffrey Skillingformer CEO of Enron Corporation
- 13.
The indictment, in a lot of ways, that was the turning point.
Jeffrey Skillingformer CEO of Enron Corporation