November 17, 2006 |
Two senators hope to end the legal precedent that let Enron Corp. founder Kenneth L. Lay's fraud conviction be cleared from his record after he died. The development has hurt prosecutors' efforts to take $43.5 million in restitution from his estate. Working with the Justice Department, which asked for similar legislation shortly after Lay died in July, Sens. Dianne Feinstein (D-Calif.) and Jeff Sessions (R-Ala.
August 16, 2006 |
The judge who presided over late Enron Corp. founder Kenneth L. Lay's two criminal trials has paved the way for his lawyers to legally clear his name. In a ruling issued last week and made public Tuesday, U.S. District Judge Sim Lake approved a request to substitute the late company founder's estate for Lay himself in court proceedings so that the entity could act on his behalf.
July 20, 2006 |
Enron's founder Kenneth Lay had severely clogged arteries when he died in Colorado this month while awaiting sentencing for his role in the collapse of the energy company, according to an autopsy report. The autopsy showed that three of Lay's arteries were 90% blocked. The examination was performed by forensic pathologist Robert Kurtzman, who previously told reporters that Lay died of cardiovascular disease. Lay, who was 64, was facing decades in prison. He was due to be sentenced in October.
May 29, 2006 |
The conviction of former Enron Corp. executives Jeffrey K. Skilling and Kenneth L. Lay will help former company employees, shareholders and other creditors reach settlements to recoup more of their losses, legal experts said Friday. But with so many groups seeking funds after the energy giant's collapse, actual payouts could be years away and probably will amount to pennies on the dollar, they said.
May 27, 2006 |
Kenneth L. Lay was in no hurry to update his Internet site Friday. The home page, with its red, white and blue piping and its formal portrait of the disgraced Enron Corp. founder, remained a digital time capsule of the moment when the verdict was still pending, when Lay could still spit defiance at the government's attacks on his character, when he could still write: "We firmly believe that the jury will see through this."
May 26, 2006 |
Handing the government its biggest victory in its war on corporate corruption, a federal jury Thursday found former Enron Corp. executives Kenneth L. Lay and Jeffrey K. Skilling guilty of conspiracy and fraud in connection with the 2001 collapse of the onetime energy trading giant. Jurors said they rejected the defense that there was no crime at Enron -- that Lay and Skilling were unfairly targeted by a government bent on making them the scapegoats for their company's failure.