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July 7, 2004 / 4:50 PM

Report: Lay may be indicted

HOUSTON, July 7 (UPI) -- A Houston grand jury returned a sealed indictment Wednesday that may contain charges against former Enron chairman Ken Lay, the Houston Chronicle reports.

The foreman of the jury informed a U.S. magistrate that 12 of the 16 grand jury members voted for the indictment after a presentation by two Enron Task Force prosecutors.

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Lawyers with knowledge of the investigation said it was likely Lay would surrender Thursday, the Chronicle said.

Details of the charges were not known, but there have been rumors in recent weeks that Lay might be charged soon.

Lay's lawyer, Mike Ramsey of Houston, had insisted that his client would not be indicted and was innocent.

The Enron jury was impaneled in March 2002 and so far has indicted 23 people on charges related to the financial collapse of of the Houston energy trading company.

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