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.
October 18, 2006 |
A federal judge Tuesday wiped out the criminal conviction of Enron Corp. founder Kenneth L. Lay, ruling that his July 5 death denied him the chance to appeal a Houston jury's fraud and conspiracy verdict. The ruling by U.S. District Judge Sim Lake, who presided over the 16-week trial in spring, will make it tougher -- though by no means impossible -- for prosecutors and private plaintiffs who are trying to recover money from Lay's estate, legal experts said.
September 8, 2006 |
The estate of Kenneth L. Lay, who died after being convicted of heading a fraud that destroyed Enron Corp., agreed to pay $12 million to settle claims on behalf of participants in company pension plans, the Labor Department said. The proposed agreement must be submitted to a Houston court for approval, and final recovery will depend on the amount of assets available for distribution from Lay's estate, the government said.
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.
July 6, 2006 |
The death of Enron Corp. founder Kenneth L. Lay early Wednesday raises the possibility that his conviction could be erased, complicating the federal government's effort to close the books on one of its most ambitious corporate fraud prosecutions. Lay, who at age 64 succumbed to a massive heart attack at a rented Colorado vacation home, was found guilty by a federal jury in May along with former Enron Chief Executive Jeffrey K. Skilling of conspiracy and fraud.