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Former Enron CEO Skilling to have prison term shortened

Jeffrey Skilling, the former Enron Corp chief executive, has reached an agreement with federal prosecutors that could result in his 24-year prison term over the energy company's spectacular collapse being shortened by roughly a decade.

According to court papers on Wednesday, the government and Skilling have agreed to recommend that Skilling be resentenced at a June 21 hearing to a term of 14 to 17-1/2 years, a period that could be shortened for good behavior.

Skilling has already served more than 6-1/4 years in prison following his May 2006 conviction by a Houston federal jury on 19 counts of securities fraud, conspiracy, insider trading and lying to auditors.

(Reporting by Jonathan Stempel in New York; Editing by Gerald E. McCormick)