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Jeff Skilling will get out of prison in 2020 - 12 News KBMT and K-JAC. News, Weather and Sports for SE Texas

Ex-Enron CEO will get out of prison in 2020

HOUSTON (KTRK) -- One of the most infamous figures from the Enron scandal was back in Houston today. Jeff Skilling was at the federal courthouse, where he learned his sentence has been reduced to 14 years, meaning he has only 8 more years to serve.

Skilling's lawyers and prosecutors had asked a judge to approve the deal which reduced Skilling's original 24-year prison sentence.

Skilling has already served seven years of his original sentence. He'll be given credit for that under his new sentence, which will see him leave prison in December of 2020.

Skilling walked off the federal transport bus around 8am and headed into the federal courthouse to wait for the afternoon hearing.

Skilling, former Enron CEO, is the highest-ranking Enron official to be convicted for his role in the Houston-based energy giant's collapse. After challenges by Skilling's legal team, a federal appeals court found his original sentence was too harsh.

Today, as part of an agreement hashed out with federal prosecutors, Skilling saw his sentence reduced to 14 years, which is the minimum

"I think the message is that if you have tens of millions of dollars to fight this, you can ultimately get a reduction of your sentence," said KTRK legal analyst Joel Androphy. "Your average person that has little money or a fair amount of money but doesn't have the billions of dollars Skilling does can't do this."

As part of the agreement, Skilling will stop challenging his conviction. That will allow the government to seize about $40 million worth of his assets and distribute that to Enron fraud victims.

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