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Jeff Skilling released
Enron CEO Jeffrey Skilling was released from custody in Texas after serving more than 12 years relating to the 2001 collapse of Enron.
The 65-year-old perpetrated one of the greatest financial frauds of all time. The company claimed revenues of more than $100 billion in 2000 but it was a institutionalized, systematic, and creatively planned accounting fraud that led to a re-write of US accounting rules.
Skilling was CEO for less than a year and quit four months before the collapse, saying his departure had “nothing to do with Enron”.He was the main fall guy in Enron after Kenneth Lay died of a heart attack three months before his scheduled sentencing.
This article was originally published by Forexlive.com. Read the original article here.