At the end of the massive Enron accounting scandal, the burden of serving hard time has fallen to former chief executive Jeffrey Skilling, who was sentenced to 24 years and four months in jail as he continued to maintain his innocence five years after the energy giant's historical collapse.Skilling, 52, also faces fines of $18 million, a lesser amount than the $100 million in reparations and fines sought by federal prosecutors. Lake also approved a payment of $45 million from Skilling to former employees who lost money in Enron's pension funds was also approved.
The sentence doled out by U.S. District Judge Sim Lake is by far the longest term received by any of the Enron defendants, was at the low end of federal sentencing guidelines, considering that the amount of the fraud the court linked to Skilling’s actions was estimated at $80 million.
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