Convicted Enron Corp. founder Ken Lay, who was found guilty of helping perpetuate one of the most sprawling business frauds in U.S. history, has died of a massive coronary. He was 64.
Nicknamed "Kenny Boy'' by President Bush, Lay led Enron's meteoric rise from a staid natural gas pipeline company formed by a 1985 merger to an energy and trading conglomerate that reached No. 7 on the Fortune 500 in 2000 and claimed $101 billion in annual revenues.
Click to learn more...He was convicted May 25 along with former Enron CEO Jeffrey Skilling of defrauding investors and employees by repeatedly lying about Enron's financial strength in the months before the company plummeted into bankruptcy protection in December 2001. Lay was also convicted in a separate non-jury trial of bank fraud and making false statements to banks, charges related to his personal finances. He was scheduled to be sentenced Oct. 23.
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According to a statement from the Pitkin County Sheriff's Office, deputies and an ambulance had been sent to Lay's Old Snowmass home at 1:41 a.m. for a medical emergency. Lay was then transported to Aspen Valley Hospital where he was pronounced dead at 3:11 a.m. A coroner's autopsy is pending.Pat Worcester, executive assistant to CEO at Aspen Valley Hospital, said the hospital would release a statement later.
Skilling told The Associated Press that he was aware of Lay's death, but declined further comment.
Prosecutors in Lay's trial declined comment today, both on his unexpected death and what may become of the government's effort to seek a $43.5 million judgment from Lay that they say he pocketed as part of the conspiracy.
Not to sound to macabre, but I'm going to channel the spirit of Ed Rooney and tell them they need to produce a body before I'm buying it. The guy was looking at spending the rest of his life in prison, so I'm laying odds on either "self-induced heart attack" or "fled to South Pacific with ill-gotten funds."
Skilling probably declined further comment because he was pissed off for not thinking of it first.
Former Enron CEO Ken Lay, who was just convicted on multiple felony counts relating to the fall of his company,......
| --Posted to Off the Kuff on Jul 5, 2006 12:30 PM:. |
Similar levels of criminality, I'd argue, Rory. They're heading to the same place, those two.
I agree with you, Pete. I want an open casket.
Self induced heart attack? Beats children induced Tourette’s.
You think he's hunting with Cheney at "An undiscloed Location"?
Perhaps the explanantion is in a little unwritten clause of the MCain sponsored incumbent assurance act or the "campaign finance reform "... The Federal Big Donor Protection Program.. Let the conspiracies, BEGIN!
This was certainly the easiest out the guy could have wished for. It sucks that his family will drift away into a life of privilege on a pile of money that could really help out some ex-Enron employees. I bet a lot of former employees feel really ripped off today; at least Skilling seems younger and healthy.
That is EXACTLY what I thought - I need proof. It's all too coincidental. And they'd better go after the fucking money, too. Bastards.
Anyone wanna wager that he gets a posthumous pardon?
In the Twilight Zone world of local news, Marvin Zindler gave a salute to his buddy this evening and proclaimed his certainty of Lay's innocence. If it were any less a credible source than Marvin...
TTTWLAM: He doesn't need a pardon. Because he died before his appeals were exhausted, the case against him, and his conviction, are expunged.
Just roll his old bones on in here and I'll dig up your death certificate.
*de-lurk*
Maybe he's hanging out with Olivia Newton John's ex in Mexico-- I bet Skilling and the rest of them are right behind him.
I'm glad I'm not the only one with serious doubts about this "heart attack." Is there a medication one can take to induce a heart attack? But yeah, I want to see a body. And even if he really is dead, the fucker still got away with it.
Veeeeeery convenient.
He's got the money to fake his death. What do ya bet that no one sees the body. There's no way in hell he was going to spend time in jail - Bush was getting his pardon ready the moment the verdict came down. Bloody elitists.
My bet is also on "self-induced heart attack." I heard on the radio this morning that his body is to be cremated. That makes me even more suspicious!
Hell, if they can parade photos of Abu Musab al-Zarqawi's dead face all over the Internet, surely they can do the same for Lay.