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Wednesday, December 13, 2006

UPDATE: Skilling Begins Serving Sentence

Former Enron executive Jeffrey Skilling has begun serving jail time for his role in crimes that brought down the once-high flying energy firm.

On December 13, 2006, at approximately 12:07 p.m., Skilling arrived at the Federal Correctional Institution, Waseca, Minnesota, for service of his sentence, the U.S. Justice Department says.

Skilling was sentenced in the Southern District of Texas to a term of 292 months imprisonment and a three-year term of supervised release for securities fraud, insider trading and making false statements to auditors in connection to his role leading Enron from energy titan to worthless bankruptcy.

The Federal Correctional Institution, Waseca, Minnesota is an 1123 bed, low security facility. The institution is located 75 miles South of Minneapolis, Minnesota.

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