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Latest Kenneth Lay Stories

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2008-09-10 09:05:00

By Juan A. Lozano / Associated Press Enron Corp. shareholders and investors will split about $7 billion from financial institutions accused of participating in the fraud that caused the once-mighty energy company to collapse. The settlement amount was listed at $7.2 billion, a sum that has been accruing interest since 2002 and includes $688 million plus interest in attorneys fees. The deal, approved late Monday by U.S. District Judge Melinda Harmon, and the attorneys fees are the largest...

2006-10-24 06:00:14

By Greg Farrell HOUSTON -- A federal judge sentenced Jeffrey Skilling, the lead architect of the complex fraud that was Enron, to 24 years in prison Monday, bringing closure to a massive federal effort to identify and punish the perpetrators of the biggest accounting fraud in history. Declaring that Skilling "repeatedly lied to investors," U.S. District Judge Sim Lake rejected defense arguments that seven to 10 years in prison would be sufficient. Instead, he gave Skilling, 52, one of...

2006-07-19 17:25:46

HOUSTON (Reuters) - Enron's founder Kenneth Lay had severely clogged arteries when he died in Colorado earlier this month while awaiting sentencing for his role in the collapse of the energy company, according to an autopsy report made public on Wednesday. The autopsy showed that three of Lay's arteries were 90 percent blocked. The examination was performed by forensic pathologist Robert Kurtzman, who previously told reporters that Lay died of cardiovascular disease. It also showed...

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2006-07-14 17:30:00

HOUSTON (AP) - Ken Lay has taken his place alongside Elvis Presley in the pantheon of people whose deaths have not been fully believed. In Internet sites and blogs, conspiracy theorists and jokesters have floated the idea that the Enron founder's powerful friends helped him fake his death to escape sentencing in one of the biggest corporate frauds in U.S. history. Some disbelievers are serious. Others are clearly having fun, such as the creator of a Web site that shows Lay's face...

2006-07-12 14:26:26

By Bruce Nichols and Matt Daily HOUSTON (Reuters) - Houston's political and business leaders, including former President George H.W. Bush, turned out for Kenneth Lay's memorial service on Wednesday, less than a week after the Enron founder's sudden death. Friends and family lauded as a devout Christian and family leader the man who built Enron into an international energy powerhouse before its collapse in the biggest corporate scandal of its time. Lay's stepson David Herrold told...

2006-07-07 08:10:00

HOUSTON -- The body of Enron Corp. founder Ken Lay will be cremated and his ashes buried in Aspen, Colorado where he died this week of an apparent heart attack, a newspaper reported on Friday. The Houston Chronicle, quoting a source close to Lay's family, said the cremation and Aspen burial had been Lay's wish because the mountain town, where he once owned several properties, was his favorite place in the world. The Lay family will hold a private service in Aspen on Sunday for the one-time...

2006-07-06 21:21:48

WASHINGTON (Reuters) - President Bush on Thursday called convicted Enron Corp. founder Ken Lay, who died this week, a "generous person," but said he had betrayed the trust of shareholders. Lay died of heart disease on Wednesday while on vacation in Colorado, six weeks after being convicted of fraud and conspiracy in the financial scandal that brought down the energy conglomerate. Lay, a former confidant of Bush's father, and called "Kenny boy" by the current president, was once a...

2006-07-06 14:32:39

HOUSTON (Reuters) - The sudden death of disgraced Enron Corp. founder Ken Lay topped newspaper headlines across the nation on Thursday, with media reactions ranging from outraged to cheated. The outrage was provided by the The New York Post, which gave voice to the conspiracy theories circulating around the Internet that Lay's death was faked. "Before they put cheato Lay's coffin in the grave check he's in it," the tabloid splashed on its front page. Some media kept the story...

2006-07-06 14:30:59

HOUSTON (Reuters) - The sudden death of disgraced Enron Corp. founder Ken Lay topped newspaper headlines across the nation on Thursday, with media reactions ranging from outraged to cheated. The outrage was provided by the New York Post, which gave voice to the conspiracy theories circulating around the Internet that Lay's death was faked. "Before they put cheato Lay's coffin in the grave check he's in it," the tabloid splashed on its front page. Some media kept the story simple,...


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