Former Enron CEO Awaits Sentence Reduction

Former Enron CEO Jeff Skilling leaves the Bob Casey U.S. Courthouse with his attorney Daniel Petrocelli after the end of his fraud and conspiracy trial May 25, 2006 in Houston. (credit: Dave Einsel/Getty Images)

Former Enron CEO Jeff Skilling leaves the Bob Casey U.S. Courthouse with his attorney Daniel Petrocelli after the end of his fraud and conspiracy trial May 25, 2006 in Houston. (credit: Dave Einsel/Getty Images)

HOUSTON (AP) – Ex-Enron Corp. CEO Jeffrey Skilling, already in prison for his role in the once mighty energy giant’s collapse, is set to learn if his more than 24-year prison sentence could be reduced by as many as 10 years.

Skilling is to be resentenced Friday during a federal court hearing in Houston. His original sentence is expected to be reduced to between 14 and 17.5 years.

His resentencing is part of a court-ordered reduction of his prison term and a separate agreement with prosecutors that will allow for the distribution of around $41 million in restitution to victims of Enron’s collapse.

Some Enron victims are expected to speak during the resentencing hearing.

Skilling, the highest ranking Enron official convicted for the Houston-based company’s downfall, has been in prison since 2006.

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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