Ellington

Will post more on this as I get it, but CNN just reported that Enron Founder Ken Lay has died of Heart Failure. His family has released a brief statement, but are asking for their privacy at this time.

Previous Comments

ID

106705

Comment

The AP has provided a few more details to CNN. I am going to post the link here: http://money.cnn.com/2006/07/05/news/newsmakers/lay_death/index.htm?cnn=yes

Author

c a webb

Date

2006-07-05T09:29:58-06:00

ID

106706

Comment

Kenneth Lee Lay (April 15, 1942 - July 5, 2006), (a.k.a. Ken Lay) was an American businessman, most notable as the former Chairman and CEO of Enron Corporation. Ken Lay and Enron became synonymous with corporate abuse and accounting fraud following the collapse of Enron in 2001. Lay was the CEO and chairman of the company from 1986 until his resignation on January 23, 2002, except for a few months in 2001 when he was chairman and Jeffrey Skilling was CEO. On July 7, 2004, he was indicted by a grand jury on 11 counts of securities fraud and related charges.[1]. On January 31, 2006, following four and a half years of preparation by government prosecutors, Lay's and Skilling's trial began in Houston. Judge Sim Lake dismissed one charge of securities fraud against Lay on March 26, after the government rested its case. After 56 days of testimony and six days of jury deliberation, Lay was found guilty on May 25, 2006, of all 10 remaining counts against him Full bio of Ken Lay is here with an update of his death: http://en.wikipedia.org/wiki/Ken_Lay

Author

c a webb

Date

2006-07-05T09:37:48-06:00

ID

106707

Comment

Then I hope they send his corpse to prison. When is Bernie Ebbers going to prison?

Author

Ray Carter

Date

2006-07-05T12:06:08-06:00

ID

106708

Comment

Ken Lay's dying is convenient for a lot of high powered criminals that he may have had dirt on like Bush & Cheney.

Author

JAC

Date

2006-07-05T12:13:25-06:00

ID

106709

Comment

Ray, I think the Lay story is an unfortunate one for self-made men. Look at what happened: the man built company over 20 years ago that seemed unthinkable--- only to watch it crumble because of corruption while you are at the helm. As one of the pundents said today on FOX News, he died of a broken heart---- and maybe one filled with guilt.

Author

c a webb

Date

2006-07-05T12:18:07-06:00

ID

106710

Comment

or the thought of going to a REAL federal prison, not a country club, where he was at a higher risk of being someone's beotch.

Author

Kingfish

Date

2006-07-05T14:25:03-06:00