TX - Kenneth Lay & Jeffrey Skilling for Enron fraud, money laundering, Houston, 2006

[Wudge]

He wouldn't have had it for long. Probably just trying to get the last use out of it.

His wife would almost assuredly have protected assets, perhaps a vacation home.

Because Lay was not sentenced, his guilty verdict will be abated. He will be buried "presumed innocent".

Lawyers handling civil lawsuits will have to work a bit harder for a win, but his estate will still likely end at zero.

 

[Wudge]

His heirs aren't going to have much choice. There was a multi-million $$ judgement against him. That places them at the head of the line, before the legal heirs. The feds are going to tie his estate up until the next decade and beyond.

The Feds can't now that he is dead. The Feds wanted 43 million, but Lay's untimely death stops them cold.

 

[concernedperson]

Nope, this time any funds will be distributed to the first who layed claims.If, that is the fed,then it is done deal. No way, unless they squirreled away funds in another country that his estate won't be touched.

And, rightfully so. This Ken Lay is a criminal who caused a lot of pain to so many and this case deserves justice for them.His family understands the consequences of his actions as they have lived very high on his misjudgements. They may have to go to work like the rest of us.

 

[Wudge]

Nope, this time any funds will be distributed to the first who layed claims.If, that is the fed,then it is done deal. No way, unless they squirreled away funds in another country that his estate won't be touched.

And, rightfully so. This Ken Lay is a criminal who caused a lot of pain to so many and this case deserves justice for them.His family understands the consequences of his actions as they have lived very high on his misjudgements. They may have to go to work like the rest of us.

The Feds claim relies on Lay's criminal trial proceedings being fully adjudicated. The Judge never "directed" the 43 million to be paid, and Lay would have had the right to appeal his conviction and any directed restitution. Thus, the Feds request for restitution died, too.

 

[Cypros]

This is an excellent example of the need to revamp our justice simple so that justice can be won at a faster pace. Victims are victimized all over again with prolonged trials, lengthy sentencing periods, appeals -- and the death of the perpetrator in the meantime.

 

[kato]

He also sounded arrogant, defending his extravagant lifestyle, including a $200,000 yacht for wife Linda's birthday party, despite $100 million in personal debt and saying "it was difficult to turn off that lifestyle like a spigot."

http://www.foxnews.com/story/0,2933,202143,00.html

How do you swindle $43 million and still end up with $100 million in personal debt??? Not too bright, was he? Geesh!!! I hadn't read that before... shocked me.

Man, I'm in Montana visiting my mom. I heard about this this morning and thought oh boy the stress killed him. What an easy way out. I thought they had sold their house and moved into a high rise. Also, his wife had the nerve to open a resale shop. I shoulda gone over there and told her off. LOL

 

[Cypros]

This article says that Lay's death voids the guilty verdict and they will have to go through new civil suits to have a chance at getting anything from the estate. Sigh...


Lay's Death Complicates Efforts to Seize Assets

In yet another bizarre twist to the Enron saga, the sudden death of Kenneth L. Lay on Wednesday may have spared his survivors financial ruin. Mr. Lay's death effectively voids the guilty verdict against him, temporarily thwarting the federal government's efforts to seize his remaining real estate and financial assets, legal experts say.
...
But while the death of Mr. Lay may have limited government efforts in his criminal case, he remains the subject of civil lawsuits by the Securities and Exchange Commission and former investors and Enron employees. Those lawsuits could still proceed, with the aim of taking control of some of Mr. Lay's remaining assets.

http://www.nytimes.com/2006/07/06/b...&en=12e4c2e105c3adef&ei=5094&partner=homepage

 

[close_enough]

Prosecutors in Lay's trial declined comment Wednesday, both on his death and what may become of their effort to seek $43.5 million they say Lay collected as part of the conspiracy. The government is seeking $139.3 million from Skilling.

http://news.yahoo.com/s/ap/20060706...jqymFGs0NUE;_ylu=X3oDMTA3MjBwMWtkBHNlYwM3MTg-

the article also states that the coroner listed natural cause of death...Lay had heart disease...

Scott Thompson, chief deputy coroner in Pitkin County, Colo., said Lay died of natural causes. Dr. Robert Kurtzman, Mesa County coroner in Grand Junction, Colo., said an autopsy showed Lay died of heart disease. He said there was evidence that Lay had also suffered a previous heart attack.

 

[ember]

It's called Karma, baby! It can be a b*tch or your best friend depending on what kind of person you are...we all know that he was a b*tch...all of those poor people that suffered won't get satisfaction out of seeing him suffer, BUT if their Karma is right, they won't want to...

however, nature does have a justice system!

 

[Jeana (DP)]

His wife would almost assuredly have protected assets, perhaps a vacation home.

Because Lay was not sentenced, his guilty verdict will be abated. He will be buried "presumed innocent".

Lawyers handling civil lawsuits will have to work a bit harder for a win, but his estate will still likely end at zero.

I agree that his attorneys will seek to have the conviction overturned and will most likely will succeed. I also agree some of the family's assets will be protected, as in any other bankruptcy proceeding. However, I disagree that the civil lawsuits will be any harder simply because he's deceased. Civil lawsuits take years to sort out and Lay's testimony is already out there because he was kind enough to testify in his own defense.

 

[Jules]

The Feds can't now that he is dead. The Feds wanted 43 million, but Lay's untimely death stops them cold.

If this is the case, then I certainly hope they do a thorough autopsy. Seems a bit convenient to me.

 

[Jeana (DP)]

If this is the case, then I certainly hope they do a thorough autopsy. Seems a bit convenient to me.

I believe they already did.

 

[Jules]

I believe they already did.

Thanks... I'm a bit slow this morning....

 

[nanandjim]

If this is the case, then I certainly hope they do a thorough autopsy. Seems a bit convenient to me.

I don't know the law. However, if Lay's death means that his conviction is nullified and his assets are protected (to include life insurance money), it wouldn't surprise me if Lay planned his own death. He may have figured that he was going to spend the rest of his life in prison anyway. So, why not kill himself and protect his family in the process.

 

[Jules]

I don't know the law. However, if Lay's death means that his conviction is nullified and his assets are protected (to include life insurance money), it wouldn't surprise me if Lay planned his own death. He may have figured that he was going to spend the rest of his life in prison anyway. So, why not kill himself and protect his family in the process.

Exactly my thinking. It wouldn't surprise me a bit to learn his supposed heart attack was self induced somehow. The man is and was pond scum.

 

[nanandjim]

Exactly my thinking. It wouldn't surprise me a bit to learn his supposed heart attack was self induced somehow. The man is and was pond scum.

Skilling probably thinks that Ken was a shrewdy and ultimately beat the system. I assume that Skilling would not follow suit, though. Wouldn't that be something if he did...

 

[Jules]

Skilling probably thinks that Ken was a shrewdy and ultimately beat the system. I assume that Skilling would not follow suit, though. Wouldn't that be something if he did...

He said he had thought about it in an interview but, at that time, had decided against it. Will be interesting to see what happens now. If he knows that the feds can't do much if he dies, he may opt for that as well. :loser: :loser: :loser:

 

[kato]

Skilling probably thinks that Ken was a shrewdy and ultimately beat the system. I assume that Skilling would not follow suit, though. Wouldn't that be something if he did...

I think Skilling's ego is too big for him to do something like that. JMO Ya never know.

 

[Floh]

Autopsy: Lay died of coronary artery disease

Enron founder Kenneth Lay died from severe coronary artery disease while awaiting sentencing for fraud and conspiracy convictions stemming from the company's 2001 collapse, the doctor who performed his autopsy announced Wednesday.

http://edition.cnn.com/2006/BUSINESS/07/06/enron.lay/index.html

 

[nanandjim]

Autopsy: Lay died of coronary artery disease

Enron founder Kenneth Lay died from severe coronary artery disease while awaiting sentencing for fraud and conspiracy convictions stemming from the company's 2001 collapse, the doctor who performed his autopsy announced Wednesday.

http://edition.cnn.com/2006/BUSINESS/07/06/enron.lay/index.html

I am utterly surprised that the coronary artery disease and previous heart attack was not detected before this autopsy. My husband is a top executive with his company; and it is mandatory that he (and other executives) have a complete physical every year.

I can well imagine that Ken Lay received the best of treatment due to his position in life and wealth. Something still doesn't seem right to me. :waitasec: