The former Chief Executive of Enron Corp., Jeffrey Skilling is looking enthusiastic about starting a new business as soon as he is released from the jail. He has served twelve years in US Federal prison, for having a role in one of the major corporate scandal of US history.
He was set free from the prison on 21st of February this year. He served a total of 12 years of imprisonment out of 24 years. On August 2001 he resigned from the energy firm, Enron of which he was the CEO. The firm filed the case of bankruptcy just before he left. Both the founder of Enron were crime partners as well. Both of them has got 19 cases registered against them.
They faced the conviction for conspiracy, security scam, making dishonest statements and insider trading. As per the reports, after he got released from the jail because of 2006 conviction, Mr. Jeffrey has started meeting with his old colleagues and others with a hope to get backing for his new venture.
Although the nature of the project is kept undisclosed, people who meet Mr. Jeffrey has hinted that the project will be something based on digital currency and the platform will be connecting the investors to the oil and gas projects. Amongst them, two has confirmed that he has met with people from cryptocurrency, the blockchain, and software development background. But the news is yet to be established.
The previous supervisor of Enron Energy Services, Mr. Lou L. Pai, has promised him to invest in his new venture.
As per some news Mr. Jefferey had already planned for his new project when he was still serving his prison terms, at the correctional facility at Alabama. According to some informers he was having talks on the project when six months were left for his complete freedom. The informers have further told that he was concerned that somebody else would come up with similar kind of ideas on the last few days of his imprisonment.
He has some innovative ideas for blockchain related projects such as blockchain powered energy product trading platform, Vakt. He is planning to join with some of the major industry players like total, Shell, and BP for this project.
Although SEC has banned Mr. Jeffery from working as an officer or he cannot serve as a director for any publicly held firm. But a lecturer of Law School of Wayne State University has said Mr. Jefferey’s energy experience can appeal to a lot to the investors and platform like cryptocurrency can prove useful for his second career innings. All will be good as long as SEC’s judgment is not violated.