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

[nanandjim]

If anyone cares. I just read in our paper that Ken Lay's 3 main coronary arteries were over 90% blocked and had suffered 2 earlier heart attacks. It was 1 a.m.. He had gone into the bathroom and his wife ran in there when she heard a thump. She found him unresponsive. He had vomited and had had brief seizure like activity. He had 2 coronary artery stents in place to increase blood flow. It was said he didn't complain of any pain. He had recently been experiencing upper gastrointestinal symptoms. This is from the pathologist's report in Pitkin County, CO. It's and 18 page autopsy of which only 6 pages have been released.

They said that allegations that that was not his body are ludicrous.

Thanks for the update.

 

[kato]

Thanks for the update.

Your welcome. Even though he was a wretched man for some reason I'm still interested.

 

[nanandjim]

Your welcome. Even though he was a wretched man for some reason I'm still interested.

People usually aren't all good or all bad. What kind of peeves me is when people say that he was so generous to his community, etc. It's easy to be generous when it is with someone else's money, IMO.

To me, that's like praising the bank robber for giving away some of his ill gotten gains to passersby.

 

[spclk]

OK- get your stones ready. I agree that if Ken Lay did what was proven in court he did, he was an awful person. However, you can't blame his children for loving him and expressing that love and grief at his funeral. None of this was their fault and I am sure that he was loved by them. Let's crucify the criminal, not his entire family. I am sure that this has not been easy for them. I am also sure that Ken Lay has received his just reward in the next life.

 

[Marthatex]

Was it company stock or an actual company retirement program that the employees invested in.

I know several Dellionaires. Now you can hardly blame people who invested in Enron; it was considered at one time the greatest company and the greatest stock in the world. (in the late 90's)?

I feel sorry for the employees who lost their retirement; especially the older ones. There ought to be some kind of insurance; kind of like insurance for bank accounts. IMO

Yes, Roth IRA's are good for middle income folks. Any kind of IRA or Keogh Retirement plan is good for others. The money accumulates tax free; a good savings method. Social Security will only pay us so much; for baby boomers it's been upped to age 66 and soon to 70.

What am I supposed to do, prostitution?

 

[kato]

Lay's will was filed Thurs. and he left everything to his wife. It was signed in Aug. of 2003 before his indictment and does not specify the assets.

Richard Alderman, who is a law professor here at UofH says one of the 1st things that will happen is that creditors will have a chance to make claims against the estate. Anyone he owes money to, anyone in the process of suing him those claims will go against the estate. Death ended the criminal matters but not the civil. As we've discussed before. His will should be easy to probate as long as no one surfaces to challenge it. Says it should be a simple 5 min. hearing. If anyone was to protest it would probably be his children from his 1st marriage. He had outlined gifts in the will. $250,000 to various kids. $100,000 to his sisters. He wanted to give $100,000 each to his church and the M.D. Anderson Cancer Center.

I guess no one will be collecting anything now.

 

[Maral]

Jeffrey Skilling was sentenced to 24 years in prison Monday for his role in the Enron fraud that brought down the nation's seventh-largest company and came to stand as a symbol for corporate fraud in America. More than 4,000 Enron employees lost their jobs - and many their life savings - when the company declared bankruptcy in December 2001

Link

 

[reb]

AWESOME!! i think he should have to listen to an endless video loop for the next 24 years of all of his victims.. recounting how hard they worked for so many years to have something.. and then how they lost it all through his short-sighted selfishness and greed. that might teach him how to be human, just a little bit.

too bad the other guy kicked the bucket & got off easy.

 

[close_enough]

heard this today also...good deal!

 

[DEPUTYDAWG]

1) At least 24 yrs is not a slap on the wrist, IMO. I wish, however, that he would have been incarcerated immediately, rather than house arrest until the judge determines where Skilling will be sent.

2) Interesting re $50mil in restitution to the victims, rather than the gov't. Wonder how that will work, and how long before some of the victims see a $0.01 or 2.

 

[cappuccina]

...big deal...

This needs to be doing hard labor or building homes for Habitat for Humanity 12 hours a day. 6 days a week, with the rest of the time spent in a real prison...Put him in Attica or somewhere like that, and let's see him tough it out with the general pop. there... :furious:

 

[newtv]

24 years sounds like an eternity to me- so if he has house arrest for a few days or weeks it wont detract from the hell he is about to face..the thing to wonder about is whether he will be allowed house arrest while on appeal?
I wonder how that works cuz if he is allowed that could be a couple of years with how slow the courts are.

 

[ISPTRAX]

Is he married? Has kids? Just curious... I'll bet he offs himself.

 

[2sisters]

His sentance is fine and all, but whree does it leave the people who lost everything b/c of him?

 

[nanandjim]

His sentance is fine and all, but whree does it leave the people who lost everything b/c of him?

It's sort of like a murderer who is found guilty. It doesn't bring back the victim, but hopefully some measure of justice in the form of a conviction and sentence will bring some type of closure.

 

[deanws]

AWESOME!! i think he should have to listen to an endless video loop for the next 24 years of all of his victims.. recounting how hard they worked for so many years to have something.. and then how they lost it all through his short-sighted selfishness and greed. that might teach him how to be human, just a little bit.

too bad the other guy kicked the bucket & got off easy.

I agree. 24 years isn't near long enough! He ruined many lives for a hell of a lot longer than the 24 years he will serve. I bet the b@stard will be out in 10 years. Many will never be able to retire because of their losses in this whole Enron bull!:razz:

 

[deanws]

His sentance is fine and all, but whree does it leave the people who lost everything b/c of him?

In the dust, like most vicitims of crimes. Life isn't fair. :furious:

 

[Maral]

I agree. 24 years isn't near long enough! He ruined many lives for a hell of a lot longer than the 24 years he will serve. I bet the b@stard will be out in 10 years. Many will never be able to retire because of their losses in this whole Enron bull!:razz:

I think he'll serve at least 20 years of his sentence. There is no paraole for federal crimes. But, under federal law, a defendant can get 2 months a year taken off for good behavior. I also think that since he was sentenced to more than 7 years, he can't serve his time in a minimum security facility.

 

[2sisters]

I wish ther was some way that the victims could get their full amount of money back.

 

[nanandjim]

I wish ther was some way that the victims could get their full amount of money back.

Why couldn't the judge give him a hefty fine, too? That way, the employees could have the chance of recouping some of their retirement investment. I can't tell you how livid I would be if my husband or I worked and saved, just to have the money go down the drain. I would want to kill the guy. :furious: