Former Enron CEO Kenneth Lay Dies
Posted July 5, 2006 12:00 pm.
This article is more than 5 years old.
Just two months after being convicted in one of the largest business frauds in U.S. history, Enron Corp. founder Kenneth Lay has died.
According to a statement from his lawyer’s office, the 64-year-old suffered a massive heart attack at his vacation home in Colorado.
Lay was convicted in May of fraud and conspiracy for his role in the Houston-based company’s fall in 2001.
He and former Enron chief Jeffrey Skilling were found guilty of defrauding investors in the company as well as employees in the months before it declared bankruptcy.
Lay was awaiting sentencing later this year and it’s believed he was going to face a long stretch in jail.
