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Kenneth Lee "Ken" Lay (April 15, 1942 – July 5, 2006) was an American businessman. He played a leading role in the corruption scandal that led to the downfall of Enron Corporation. Lay and Enron became synonymous with corporate abuse and accounting fraud when the scandal broke in 2001. Lay was the CEO and chairman of Enron from 1985 until his resignation on January 23, 2002, except for a few months in 2000 when he was chairman and Jeffrey Skilling was chief executive officer (CEO).

On July 7, 2004, Lay was indicted by a grand jury on 11 counts of securities fraud and related charges.<ref name=crawford>{{#invoke:citation/CS1|citation |CitationClass=news }}</ref> On January 31, 2006, following four and a half years of preparation by government prosecutors, Lay's and Skilling's trial began in Houston. Lay was found guilty on May 25, 2006, of 10 counts against him; the judge dismissed the 11th. Because each count carried a maximum 5- to 10-year sentence, legal experts said Lay could have faced 20 to 30 years in prison.<ref name=reckoning>{{#invoke:citation/CS1|citation |CitationClass=news }}</ref> However, he died while vacationing in Snowmass, Colorado, on July 5, 2006, about three and a half months before his scheduled October 23 sentencing.<ref name=LAT>{{#invoke:citation/CS1|citation |CitationClass=news }} {{ safesubst:#invoke:Unsubst||date=__DATE__ |$B= {{#invoke:Category handler|main}}{{#invoke:Category handler|main}}[dead link] }}</ref> Preliminary autopsy reports state that he died of a heart attack caused by coronary artery disease. As a result of his death, on October 17, 2006, the federal district court judge who presided over the case vacated Lay's conviction.<ref>{{#invoke:citation/CS1|citation |CitationClass=news }}</ref><ref>United States v. Lay, Criminal Action No. H-04-0025, 456 F.Supp.2d 869 (S.D. Tex. 2006), at [1].</ref>


Kenneth Lay sections
Intro  Early life  Career  Politics  Indictment and trial  Death  Timeline of events  Awards and honors  Works  See also  References  External links  

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Page creatorAllen3 (Talk | contribs)
Date of page creation19:42, 29 October 2015
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