Former Enron executive Jeffrey Skilling moved to minimum-security prison
Former Enron CEO Jeffrey Skilling—who last year received a reduction in his 24-year prison sentence for conspiracy, fraud and insider trading—has been moved to a minimum-security federal prison camp in Montgomery, Ala.—an upgrade in accommodations from a Colorado facility, where he has served most of his time.
A federal judge last year shaved 10 years off Skilling's sentence after the former executive agreed to drop his remaining appeals and turn over some $40 million in restitution. A federal appeals court had previously ruled Skilling's original sentence was too harsh.
That sentence reduction qualified Skilling to move to the minimum-security facility, which holds 874 male inmates and is located on the grounds of Maxwell Air Force Base. Inmates work in support jobs for the base, ranging from kitchen help to serving as tutors. At his previous facility, the Englewood Federal Correctional Institution in Littleton, Colo., Skilling taught Spanish classes after teaching himself the language, according to his attorney.
With time off for good behavior, Skilling could be out of prison in 2017, having served a little more than 10 years.
Skilling, 60, was convicted in 2006 on 19 criminal counts for his role in the collapse of the energy giant. He had developed Enron's "asset-light" business model, rising to chief executive in February 2001, only to abruptly resign six months later. By December 2001, the nation's seventh largest company filed for bankruptcy protection.
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—By CNBC's Scott Cohn. Follow him on Twitter