Jeffrey Skilling, former CEO of Enron, sentenced to nearly a quarter century for securities fraud.

Facing between 24 and 30 years behind bars for his role in the securities fraud that led to the collapse of the nation’s seventh largest company by sales, Jeffrey Skilling was ordered to serve 24 years and four months in federal prison. Judge Sim Lake listened to the testimony of seven victims who lost their jobs and had their life savings wiped out as a result of Enron’s bankruptcy in December 2001.

When handing down his verdict, Judge Lake took their testimony to heart saying “as the many victims of his crime have so poignantly explained, his crimes have imposed on them a life sentence of poverty.”

Skilling’s request to remain free while he appeals his conviction was denied by Lake. The U.S. District Court recommended that the former CEO serve his term at a prison in Butner, North Carolina. As part of his sentence, the 52-year-old Skilling must enter a drug and alcohol treatment program.

Enron had a market value of just over $68 million before its collapse took away 5,000 jobs and knocked out over $1 billion in employee retirement funds. Skilling’s involvement in securities fraud and conspiracy resulted in a $30 billion loss to Enron investors.

Judge Lake’s ruling also ordered Skilling to pay almost $45 million in restitution for his crimes. U.S. prosecutor Sean Berkowitz said “It will leave Mr. Skilling with virtually no assets, as is appropriate.”

After the ruling Skilling remained adamant about his role in the Enron collapse “I am innocent of these charges. I am innocent of every one of these charges.”