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« Ever Seen A Wooden Bike . . . ? | WILLisms.com | Rails To Sikkim . . . ? »

Ken Lay Dies Of Heart Attack At 64

Enron's former chief executive was to be sentenced this October.

Posted by Ken McCracken · 5 July 2006 09:54 AM

Comments

I don't know if that is good or bad??? It is a sad story.

Posted by: Zsa Zsa at July 5, 2006 10:44 AM

Think if the Social Security mess was treated like Enron???...Hmmm.

Posted by: Zsa Zsa at July 5, 2006 10:58 AM

Heh yeah, actually I am torn about this.

I think most people were rooting for him to just rot in prison - this seems like he cheated his way out of it, but dying hardly seems like 'cheating'.

Posted by: Ken McCracken at July 5, 2006 11:25 AM

First he cheats with the book keeping, AND, now in death...

Posted by: Zsa Zsa at July 5, 2006 11:33 AM

Actually, a former U.S. attorney told me that this will result in his conviction being expunged. He is dead, but not guilty. I wonder if that will have an impact on where he goes now?

It also may help out his wife, insofar as his conviction now cannot be used a collateral estoppel against his estate in the civil litigation. That should lower the settlement value of the lawsuits, and perhaps leave her a little something to come and go on.

Posted by: TigerHawk at July 5, 2006 04:29 PM

What are you talking about? that was a sentence.

Posted by: christian at July 5, 2006 07:48 PM

Tigerhawk...Wow! Is that really true? I feel really sorry for the employees and all the stock holders.

Posted by: Zsa Zsa at July 5, 2006 08:35 PM

It will depend on how Lay distributed his money. If he set up LLC's, which are pretty popular in the energy sector, those will still be free game. If the money was part of his personal estate, then expect a big estate tax.

Posted by: Rob B. at July 5, 2006 10:58 PM