Under the agreement, Skilling’s original sentence of more than 24 years would be reduced to somewhere between 14 and 17 ½ years. The final decision on the length of the sentence will be made by U.S. District Judge Sim Lake at a June 21 hearing here in Houston.
Skilling’s attorney Daniel Petrocelli says the agreement “brings certainty and finality to a long, painful process.”
Justice Department spokesman Peter Carr says the deal will allow victims of Enron’s collapse to finally receive the more than $40 million in restitution they are owed.
Skilling has been waiting to be re-sentenced after a federal panel ruled in 2009 that a sentencing guideline had been misapplied. He was convicted in 2006 for his role in Enron’s downfall.