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17

Enron CEO Skilling To be Awarded a Sentence Today

Former Enron chief executive officer Jeffrey Skilling is to learn today how long he will have to spend in jail

Former Enron chief executive officer Jeffrey Skilling is to learn today how long he will have to spend in jail.

Before the sentence is handed down in Houston, Texas, Skilling will have to listen to victims of Enron's 2001 collapse.

They have been allowed by US Judge Sim Lake to speak at the hearing about how the company?s implosion affected their lives. The collapse wiped out thousands of jobs, more than $60bn (?48bn) in market value and more than $2bn (?1.6bn) in pension plans.

At least 10 people signed up to speak at the sentencing, including a lawyer for the employees? savings and stock plans, who had prepared a 30-minute statement.

Skilling was convicted in May on 19 counts of fraud, conspiracy, insider trading and lying to auditors. He was acquitted on nine counts of insider trading.