Jeffrey Skilling Biography

Jeffrey Skilling is a former American businessman and the former CEO of energy and services company, Enron Corporation. In 2006, he was found guilty of federal felony and charged for false audit presentations, insider trading, conspiracy, etc. His acts led to the eventual collapse of Enron Corporation. Jeffrey joined Enron Corporation in 1990 when he was hired by Kenneth Lay who too, would later be convicted. Within a few years, Jeffrey replaced Lay to become the Chief Operating Officer of Enron and gained control over the company’s non-public information. His positive attitude and aggressiveness helped his firm become ‘America’s Most Innovative Company’. However, in 2001, the company experienced a sudden downfall and the situation only worsened due to the California electricity crisis. Jeffrey decided to resign and also sold his stake worth $60 million. Later in the year, the company faced bankruptcy and Skilling, along with Kenneth Lay, was accused of conspiracy. In 2006, Skilling was convicted of 35 offences and sentenced to 24 years and four months in prison. He was also ordered to cough up a fine of $45 million. In 2013, the Justice Department reduced Skilling's jail term by a decade.