Enron's former CEO Jeffrey Skilling had been reported to have intentions on going back to the energy sector, based on an article. The article reveals that Skilling had already made plans about the new venture in 2015 while he was still in prison. 

It was stated in the article that Skilling plans to establish a software system for investors in the oil and gas industry. While still in prison, he worried that someone in the outside world may first come up with a similar idea as his. That is why he required those who had worked with him with his business plans to sign nondisclosure documents. 

It was reported by an article that the former CEO of Enron was released last year after being imprisoned for his illegal acts involving the fall of Enron.

Based on the article, the business venture planned by Skilling will be called Veld LLC. A year after the plans were revealed to the public, Skilling made clearer descriptions of his new business idea. According to the article, the business idea primarily involves a digital marketplace for investors and potential investors of the oil and gas industry. 

Furthermore, the article reveals that the business proposal of Skilling will be earning primarily from oil and gas operations for marketing services. Also, it was stated that the company will be providing relevant analytical information to investors involving oil and gas operations. 

In the past few months, Skilling had been conversing with many investors in the oil and gas industry.

The project plans to be operational by the end of the year, according to the article. The project was put in legal paper by Skilling's wife in Texas in 2018 and was merged with a company bearing the same name, a year before his release from prison. 

Despite the good outlook of the proposal, Skilling cannot escape judgment from investors due to his involvement with the fall of Enron. 

Many bright minds are with Skilling in building Veld. There is still more to learn from this project which the public will be seeing soon. 

Check these out:

The Fall of Enron

Based on an article, Enron had reported bankruptcy on December 2, 2001. It started operating in 1985. In the following years, it was later on transformed as a giant in the energy sector. 

Skilling first worked in the company as Enron Finance Corporation's CEO. During his leadership, he was able to lead the changes to the accounting system of the company. The accounting method used by the company after the shift was called Market to Market. However, the article reveals that this type of accounting method tends manipulation as it does not base amounts on the actual costs but its fair value. It means that there is a possibility that this shift of accounting method may have been the beginning of the fall of the company. 

In 2000, it was reported that Skilling had been making the company look good to stakeholders to masks the downfall of the business by manipulating financial reports through the MTM method of accounting. 

Skilling was one of the major persons involved with the bankruptcy. He was imprisoned based on fraud, insider trading, and conspiracy involving Enron. He was initially sentenced to 17.5 years in prison. However, it was reduced to 14 years. In 2019, he was released from prison.