BREAKING NEWS ~ Former Enron founder Ken Lay dead

[JURIST] CNN is reporting that former Enron founder Kenneth Lay [defense website; Houston Chronicle profile; JURIST news archive] is dead. According to a spokesman for Lay's family, Lay suffered a massive heart attack in Aspen, Colorado on Tuesday evening. Lay, along with former Enron executive Jeffrey Skilling [Houston Chronicle profile], was convicted [JURIST report] in May on fraud and conspiracy charges [indictment, PDF] for providing investors with false and misleading financial information from 1999 up until Enron [JURIST news archive] filed bankruptcy in late 2001.

The 64-year-old Lay was awaiting sentencing [JURIST report] and faced a maximum sentence of 45 years in prison.



 

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