Former CEO of Enron Holds Talk with Crypto Experts to Start New Venture Soon After His Release from Prison

The former CEO of Enron, Jeffrey Skilling who had been imprisoned for almost 12 years and was serving in prison due to 19 count conviction on his part over the infamous fall of the firm, is now meeting some of the crypto industry experts so as to start his new business firm. The statement was once recorded in a report from the Wall Street Journal of March 22.

CEO of Enron, Jeffrey Skilling was freed from the federal custody on February 21; he had served in the prison for 12 years out of total imprisonment of 24 years. In August 2001, he had resigned from the post of CEO of an energy firm Enron just before the firm filed for bankruptcy. Jeffrey Skilling and Ken Lay, the founder of Enron were arrested in 2004 and sentenced by the court on May 2006 over 19 counts on both of them. There were 19 cases registered against them including conspiracy, inside trading, securities fraud and deceiving auditors.

The reports mention that Jeffrey Skilling is recently released from the prison and is free, as of now he is searching for associates to start a new organization which will be similar to Enron and will be linked to the energy finance sector. The details are still insufficient. The sources have defined the project as a digital platform that will link investors to oil and gas projects.

One of the sources has collected similar insufficient data over the nature of the new venture and said that it as an initial stage project for a software program focusing over the oil and gas investors. The project still needs to be secured by the financial banking system, and several advisers have even requested to sign non-disclosure agreements and should include at least one ex-colleague of former Enron head of energy services.

Meanwhile, Lou L. Pai has promised to make the investment in the venture.

Two unidentified sources have apparently claimed that Jeffery Skilling has been holding talks with software development, blockchain and cryptocurrency experts with regards to the project. Meanwhile, the claims have been denied by individual unidentified sources regarding the story which was published on March 23.

Few sources mention that the plan for the new project was created by Skilling when he was still in prison at a correctional facility in Alabama, one of the report said that he “was already engaging with meeting over the project when he was serving 6 months imprisonment at a Texas halfway house before he was completely given freedom.” Another report claims that he “was concerned over the rest of his imprisonment that somebody else might come up with much similar plan before he gets out from the prison.”

Jeffery Skilling is forever banned from working as an officer or cannot serve as a director of any publicly held firm, according to the term of a separate United States Securities and Trade Fee judgment.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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