Washington, May 9 (ANI): Enron scandal, one of America”s most notorious corporate frauds, has taken a new turn with its ex- CEO Jeffery Skilling striking a deal with the federal prosecutors to reduce his jail term. According to a report by Huffington Post, the ex-CEO was convicted on charges of fraudulence about the financial viability of the company Enron in the year 2006. The jail term till 2028 has now been reduced by ten years and Skilling may come out of jail as early as 2017. One of the prime reasons why prosecutors are afraid to charge banks with criminal charges is the dependency of a larger workforce that is innocent and may end up unemployed with the resultant financial crisis after prosecution, the reports said.
It has been observed in the report that frauds of financial crisis and Libor are difficult to deal with and it is the resultant chaos on the economic front is what angers people the most. For those who fell victim to this scandal including the employees and investors, it is a sigh of some relief that Skilling will be serving at least part of the sentence. (ANI)