For Skilling and Lay, no posh prisons

So these people can't sue the estate?
 
On Friday, federal prosecutors asked a judge to order Lay and former fellow Enron executive Jeffrey K. Skilling to turn over $182.2 million in assets, arguing that their homes and other assets were acquired by fraud.
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No wonder why it just killed Lay....

Enron Founder Ken Lay Dead of Heart Attack

By Carrie Johnson and Daniela Deane
Washington Post Staff Writers
Wednesday, July 5, 2006; 11:26 AM



The recently convicted former Enron chairman Kenneth L. Lay, 64, died early today in Aspen, Colo., a family spokeswoman and the sheriff's office said. Lay, convicted of fraud and conspiracy for his part in the Houston-based energy company's collapse, faced the possibility of life in prison at his sentencing scheduled for October.

Family spokeswoman Kelly Kimberly said Lay died of a heart attack. A statement from the Pitkin County Sheriff's Office said deputies and an ambulance were sent to Lay's vacation home in Old Snowmass at 1:41 a.m. for "a medical emergency."

"Mr. Lay was transported to Aspen Valley Hospital where he was pronounced dead at 3:11 a.m.," the statement said. "A coroner's autopsy is pending," the statement said.

"The Lays have a very large family with whom they need to communicate, and out of respect for the family we will release further details at a later time," a statement from the Lay family said.

On Friday, federal prosecutors asked a judge to order Lay and former fellow Enron executive Jeffrey K. Skilling to turn over $182.2 million in assets, arguing that their homes and other assets were acquired by fraud.

In May, a federal jury convicted Lay of each of the half-dozen counts with which he was charged and found his protege Skilling guilty of 19 more, pinning them with the responsibility for one of the era's biggest and most damaging business frauds. The two men were ordered to return to court for sentencing on October 23, 2006.

At the time, Lay told reporters: "Certainly we're surprised, and it's probably more accurate to say we're shocked."

Lay, nicknamed "Kenny Boy" by President Bush, and Skilling, 52, once stood near the pinnacle of American business, as the energy trading powerhouse they created out of a stodgy pipeline company grew to become the nation's seventh-largest public company. But much of their fortunes collapsed in a heap along with the business in December 2001.

The two faced the possibility of spending the rest of their lives in prison and living in history as the ringleaders of a fraud at a company whose name became synonymous with accounting tricks and rule-breaking.
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I filed bankruptcy, and there is catch, you can NOT discharge any court ordered payment, or awards! You can't discharge any child support obligation, that is because it is based on court order. Bankruptcy will NOT free u up if somebody sued you for the damage.

Oceanbreeze said:
That's true. But, even if he had gone to prison, they probably still wouldn't see a dime due to bankruptcy filings. Don't think for a min these assholes haven't sought legal counsel, and the first thing they were told to do was protect whatever assets they had left! The victims are out of their money, regardless, and I think they realize it.

Is it devestating? Unfair? Yes, but that's why I think this moron deserved what he got rather than to be sentenced. The victims are going to suffer, regardless. At least, they can take some solace in knowing he won't do to someone else, what he did to them.
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Bingo! Right now, it only means much harder for these victim to win. It is NOT dead yet, so there is hope for victims.

Mookie said:
No wonder why it just killed Lay....
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Geez, Every time I see that name "Lay", I usually think
of potato chips Fritos Lay.

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