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| Nellcote |
Enron founder Ken Lay dies
64-year-old former energy executive was awaiting sentencing for fraud.
By Shaheen Pasha, CNNMoney.com staff writer
July 5 2006: 10:31 AM EDT
NEW YORK (CNNMoney.com) -- Enron founder Kenneth Lay died early Wednesday in Aspen, Colo., a family spokeswoman said.
Lay, 64, was awaiting sentencing after being found guilty of conspiracy and fraud in the Enron trial in May.
In a statement, spokeswoman Kelly Kimberly said, "The Lays have a very large family with whom they need to communicate, and out of respect for the family we will release further details at a later time."
CNN affiliate KPRC in Houston said Lay was admitted to the Aspen Valley Hospital overnight with a massive coronary.
On May 25, Lay was found guilty of 10 counts of fraud and conspiracy related to the collapse of Enron, the energy company he founded that eventually grew into the nation's seventh largest company before it imploded after an accounting scandal.
It was an astounding fall from grace for the Houston businessman who was once nicknamed "Kenny Boy" by President Bush. Lay had raised funds for Bush earlier in his political career.
In the Enron trial, Lay was accused of lying to investors and Wall Street about the health of Enron in late 2001 even as he enriched himself by selling millions of dollars in stock.
Lay was scheduled for sentencing on Oct. 23 along with Enron's former chief executive Jeffrey Skilling, who was found guilty of conspiracy, fraud, making false statements and insider trading.
Both men faced 25 to 40 years behind bars, legal experts said.
Presiding Judge Sim Lake originally scheduled sentencing for Sept. 11.
Enron filed for bankruptcy in December 2001 after investigators found it had used partnerships to conceal more than $1 billion in debt and inflate profits. Enron's downfall cost 4,000 employees their jobs and many of them their life savings, and led to billions of dollars of losses for investors.
The collapse was the first of the high-profile corporate scandals that later rocked WorldCom, Global Crossing, Adelphia and Tyco.
The wave of fraud led to the passage of the Sarbanes-Oxley legislation meant to tighten oversight of how American companies were audited
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| jb |
Very said news..RIP. |
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| Joey |
" NEW YORK (CNNMoney.com) -- Enron founder Kenneth Lay died early Wednesday in Aspen, Colo., a family spokeswoman said. "
R.I.P. " Kenny Boy " |
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| sirmoonie |
Probably did a Hunter Thompson number - facing the rest of his life behind federal bars. That guy got screwed by the U.S. government and his dopey friends in high places. Sad story indeed. |
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| gimmekeef |
Suicide anyone?.....Sad story..but far more for those that lost their pensions etc...Greed at its worst....ooops forgot about ABB/Ticketbastard..never mind |
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| the good |
That's a shame. I really enjoyed eating his potato chips. |
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| gimmekeef |
quote:
the good wrote:
That's a shame. I really enjoyed eating his potato chips.
Thats funny as hell..!!!!!!!!! |
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| glencar |
Suicide sure. |
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| corgi37 |
Who gives a flying, burning, spinning rats ass? 1 less cunt in the world. |
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| glencar |
There's more down under eh matey? |
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| Fiji Joe |
quote:
corgi37 wrote:
Who gives a flying, burning, spinning rats ass? 1 less cunt in the world.
Are you a rebel?
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| monkey_man |
quote:
sirmoonie wrote:
Probably did a Hunter Thompson number - facing the rest of his life behind federal bars. That guy got screwed by the U.S. government and his dopey friends in high places. Sad story indeed.
Dead men tell no tales! Dead men don't get ass raped in prison! |
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| sirmoonie |
quote:
monkey_man wrote:
Dead men tell no tales! Dead men don't get ass raped in prison!
They fragged him? |
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| Ten Thousand Motels |
It's too bad that so many people lost their pension funds on account of that scam. |
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| LadyJane |
quote:
Ten Thousand Motels wrote:
It's too bad that so many people lost their pension funds on account of that scam.
Understatement of the YEAR!!
This thief can rot in Hell.
LJ. |
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| jb |
RIP Mr. Lay...god, and only god, can judge you. You are free from the hatred of man. |
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| pdog |
He can't be dead, NO! NO! NO! |
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| jb |
RIP |
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| Ten Thousand Motels |
quote:
jb wrote:
...god, and only god, can judge you.
Ultimately that's true. But his victims might have something to say as well. |
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| Joey |
quote:
corgi37 wrote:
Who gives a flying, burning, spinning rats ass? 1 less cunt in the world.
You are on FIRE !!!!!!!
YES --- that is " Miracle on Ice Postin' " |
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| jb |
quote:
Ten Thousand Motels wrote:
Ultimately that's true. But his victims might have something to say as well.
Also, if you don't beleive in god, I guess you can judge him...but we live in a Christian nation led by the great George, thus, we must forgive like all good christians, no? |
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| sirmoonie |
quote:
jb wrote:
Also, if you don't beleive in god, I guess you can judge him...but we live in a Christian nation led by the great George, thus, we must forgive like all good christians, no?
The bloggers are saying that Lay's favorite song was Popsicle Toes (M. Franks), but you won't see that reported in the liberal media!!! |
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| monkey_man |
In honor of Ken Lay's passing we should turn the power off in California for 10 minutes. . .
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| rasputin56 |
quote:
monkey_man wrote:
In honor of Ken Lay's passing we should turn the power off in California for 10 minutes. . .
Gotta love friends like Dubya...
Q One other quick question. What has been the President's reaction to the death of Ken Lay?
MR. SNOW: I really haven't talked to him about it. I'll give you my own personal reaction, which is when somebody dies you leave behind those who grieve and I think they deserve our compassion. But I don't know, what do you think would be the appropriate thing to say?
Q I don't know. I don't know him. The President was his friend, not me.
MR. SNOW: No, the President has described Ken Lay as an acquaintance, and many of the President's acquaintances have passed on during his time in office. Again, I think -- it's sort of an interesting question, but not answerable by me.
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| nankerphelge |
Joey?
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| texile |
suicide......
it's difficult not to be cynical about his death.
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| nankerphelge |
It's certainly hard not to see howe someone would choose death over prison.
But the coronor said he had serious arterial disease -- hard to fake that! |
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| pdog |
quote:
nankerphelge wrote:
It's certainly hard not to see howe someone would choose death over prison.
But the coronor said he had serious arterial disease -- hard to fake that!
The guy was a master of faking shit and making shit up!
I'm bummed he's dead, I hoped he would live long and suffer! He got out easy! |
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| corgi37 |
I'm sure the thousands who will retire to a cardboard box will put roses on his grave.
Personally, i'd wait a week or two, then dig the bastard up and tie his rabid corpse upside down from a lamp post. |
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| pdog |
Word on the street, Lay pulled a Morrison... |
