Calif. governor recounts talks with Lay

LOS ANGELES, Feb. 2 (UPI) -- Gov. Gray Davis confirmed that he met with Enron Chairman Kenneth Lay during the height of last winter's California electricity crisis, at the urgings of two Wh

Davis: Talks with Lay were a bust

LOS ANGELES, Feb. 2 (UPI) --

Enron Fall May Affect Think Tank Funding

WASHINGTON, Jan. 30 (UPI) -- The fall of energy trading giant Enron Corp., the largest corporate bankruptcy in United States history, revives long-standing questions about the ties between
CHRISTIAN BOURGE, UPI Think Tank Correspondent

Interview: Rep. Greenwood vs. Enron

WASHINGTON, Jan. 29 (UPI) -- Rep. James Greenwood, R-Pa., said his first emotion was anger when he heard Houston-based Enron Corp. had filed the largest bankruptcy action in history, leaving thousands of employees out of work and with virtually worthless retirement and pension accoun
KATHY A. GAMBRELL, Washington Reporter

Police: Ex-Enron executive takes life

SUGAR LAND, Texas, Jan. 26 (UPI) -- A former Enron executive who was identified as an internal critic of the bankrupt company's accounting practices was found dead Friday in a parked car, an appar

Commentary: En-wrong

WASHINGTON, Jan. 22 (UPI) -- In politics, image is important. If something looks bad, it is bad, at least as far as public opinion is concerned. UPI National Political Analyst Peter Roff, a veteran political operative, take a look at why the administration's strategy may not be worki
PETER ROFF, UPI National Political Analyst

Faceoff: End run on Enron

WASHINGTON, Jan. 18 (UPI) -- Is the bankruptcy of Enron, America's seventh largest corporation, a political scandal akin to Whitewater or merely a business bust? UPI National Political Analysts Peter Roff, a conservative, and Jim Chapin, a liberal, face off on opposite sides of this
PETER ROFF and JAMES CHAPIN, UPI National Political Analysts

Bush officials downplay Enron calls

WASHINGTON, Jan. 14 (UPI) -- Bush administration officials on Sunday said there was no reason to tell the president or the public about telephone calls they received from Kenneth Lay, the chairman and chief executive officer of bankrupt energy trader Enron Corp., prior to the company

Executive Business Briefing

Here is a look at more of Wednesday's top business stories:
Page 8 of 8
Ken Lay
Former Enron chairman and CEO Ken Lay walks to the Bob Casey US Court House with his wife, Linda, Wednesday, May 15, 2006 in Houston, Texas. The Enron Task Force and lawyers for Ken Lay and Skilling will begin closing arguments as the 15-week trial begins to wind down.(UPI Photo/Johnny Hanson)

Dr. Kenneth Lee "Ken" Lay (April 15, 1942 – July 5, 2006) was an American businessman, best known for his role in the widely reported 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 CEO.

On July 7, 2004, Lay was indicted by a grand jury on 11 counts of securities fraud and related charges. 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. However, he died while vacationing in Snowmass, Colorado on July 5, 2006, about three and a half months before his scheduled October 23 sentencing. 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. There have been conspiracy theories surrounding his death.

Lay was born in Tyrone, Missouri, the son of Ruth (née Rees) and Omer Lay. His father was a Baptist preacher and some-time tractor salesman. When Lay was a child, he delivered newspapers and mowed lawns. Early on, he moved to Columbia, Missouri and attended David H. Hickman High School and the University of Missouri where he studied economics, receiving a B.A. in 1964 and an M.A. in 1965. He served as president of the Zeta Phi chapter of the Beta Theta Pi fraternity at the University of Missouri. He went on to earn his Ph.D. in economics from the University of Houston in 1970 and soon after went to work at Exxon Mobil Corp., the successor to Humble Oil & Refining.

This article is licensed under the GNU Free Documentation License.
It uses material from the Wikipedia article "Ken Lay."
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