Former Enron CEO Skilling released from custody
© WikiMedia (Alex)

Former Enron CEO Skilling released from custody

Jeffrey Skilling, founder and ex-Enron CEO imprisoned for his involvement in the high-profile corporate fraud scandal publicized in 2001, was released from federal custody on Thursday after serving more than 12 years in prison.

A jury convicted Skilling in May 2006 on 19 counts of conspiracy, securities fraud, insider trading and lying to auditors for his role in maintaining a face of success as Enron’s energy business crumbled. His sentence of 24 years was later reduced to 14.

More than $40 million of Skilling’s fortune, which has been frozen since his conviction in 2006, will be distributed to victims of Enron’s collapse.