HOUSTON, July 7 (UPI) -- A Houston grand jury Wednesday returned a sealed indictment against former Enron Chairman Ken Lay, the Houston Chronicle reported.
Lay is expected to surrender to authorities Thursday, sources said.
The foreman of the grand jury told U.S. Magistrate Judge Mary Milloy at least 16 members were present and at least 12 voted for the indictment.
Federal prosecutors working with the grand jury focused on Lay's receipt of warnings of financial trouble and fraud at the company within weeks of then-Chief Executive Officer Jeff Skilling's August 2001 departure, the Chronicle said.
They also focused on Lay's encouraging public statements to investors and analysts after Skilling quit and his attempt to find an alternative to substantially writing down the "goodwill" price paid for assets.
Attorneys speculate rather than indict Lay separately, prosecutors will add him to the case against Skilling and Causey, and try the three together.
The Enron grand jury, impaneled in March 2002, has indicted 23 people on charges relating to the Enron collapse.
