Jeffrey K. Skilling‘s fight for early release from prison is all but over.
The former Enron chief executive has reached a deal with the Justice Department to lop off as much as a decade off his prison sentence, to 14 years, according to a court filing on Wednesday.
In return, Mr. Skilling has agreed to waive his rights to any further appeals, as well as to allow more than $40 million of forfeited assets to be distributed to victims of the collapsed energy giant.
If approved by the federal judge overseeing the case, the agreement would conclude a years-long battle by Mr. Skilling to reduce his sentence. Convicted in 2006 of fraud and conspiracy, the onetime Enron leader was the highest ranking executive of the energy company to serve a prison sentence.
But he has waged an aggressive campaign, using a number of legal tactics to press his case.
Last month, the Justice Department disclosed that it was in talks with Mr. Skilling’s lawyers to reduce his sentence.
Daniel M. Petrocelli, a lawyer for Mr. Skilling, said in a statement: “The proposed agreement brings certainty and finality to a long painful process. Although the recommended sentence for Jeff would still be more than double any other Enron defendant, all of whom have long been out of prison, Jeff will at least have the chance to get back a meaningful part of his life.â€
Peter Lattman contributed reporting.
