HavenWorks
 Enron
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Ken
Lay
KEN LAY News:
20060705
-
Ken
Lay - Enron
-
 Energy
-  Business
-  Accounting
-  Law
-  Colorado
- "Enron's
Founder Kenneth Lay, 64, Dies in Colorado (Update9)."
... "Kenneth Lay, who built Enron Corp. into the world's largest energy
trader and was convicted of the fraud that led to its collapse, died today
near Aspen, Colorado. He was 64." ... "Lay's defense lawyer Mike Ramsey
said through a spokeswoman that his client died ``from what appears to
have been a heart attack.''" ... "Lay and his successor as Enron's chief
executive officer, Jeffrey Skilling, 52, were convicted May 25 of spearheading
the fraud that plunged Enron into bankruptcy in December 2001. Lay and
Skilling were scheduled to be sentenced in October. Lay, who was also convicted
of bank fraud, was facing the rest of his life in federal prison." ...
"Enron's implosion from accounting fraud wiped out more than 5,000 jobs
and $1 billion in employee pensions virtually overnight. Shareholders claimed
more than $25 billion in losses as a result of the crime." -By
Andrew Dunn -Bloomberg
20060525
-
Ken
Lay - Enron
- Business
- Accounting
-
 History
- "Lay,
Skilling convicted in Enron collapse: Kenneth Lay,
left, and Jeffrey Skilling are seen in this file photo combo." ... "Kenneth
Lay and Jeffrey Skilling were convicted of conspiracy and fraud Thursday
by a federal jury that laid blame for one of the biggest business scandals
in U.S. history squarely on Enron Corp.'s two former top executives." ...
"Jurors found that the men, who received tens of millions in pay and stock
options, repeatedly lied to cover up accounting tricks and business failures
that led to the company's 2001 demise. The collapse wiped out more than
$60 billion in market value, almost $2.1 billion in pension plans and 5,600
jobs." ... "Lay was convicted on all six counts of conspiracy, securities
and wire fraud against him in the corporate trial and all four in the personal
banking trial. Former Chief Executive Skilling was convicted on 19 of the
28 counts in the corporate trial, including one count of insider trading,
and acquitted on the remaining nine." -By Kristen
Hays with contributions by Mike Graczyk, Erin McClam, Angela K. Brown and
Mark Sherman -AP
via -SFGate.com
20051228
-
Enron
- Accounting
- Business
- "UPDATE
5-Ex-Enron chief accountant pleads guilty to fraud."
... "Enron's former chief accountant, Richard Causey, on Wednesday pleaded
guilty to securities fraud in exchange for a maximum seven-year jail sentence
for his role in the financial scandal that led to the 2001 collapse of
the power-trading giant." ... "Causey, 45, had been scheduled to go on
trial next month with former Enron chief executives Ken Lay and Jeff Skilling,
facing the possibility of more than 20 years behind bars, but now may cooperate
with federal prosecutors against them in a switch legal experts said could
hurt his former bosses." ... "Causey pleaded guilty to a single count of
securities related to false filings and statements about Enron's financial
performance. He also agreed to forfeit $1.25 million as part of a sentence
that [U.S. District Judge Sim] Lake said would be set April 21." (1, 2,
3)
-By Jeff Franks with contributions by Deborah Charles
and Ben Berkowitz -Reuters
-
 Texas
- Enron
- Accounting
- Energy
- Business
- "Enron's
Causey pleads guilty: Judge grants two-week delay
to Lay, Skilling trial." ... "Rather than face trial next month, Enron's
former chief accounting officer pleaded guilty Wednesday to federal charges
stemming from the scandal that brought down the energy company in late
2001." ... "Richard Causey's plea bargain, made in U.S. District Court
in Houston [Texas] before Judge Sim Lake, can't be welcome news for Kenneth
Lay and Jeffrey Skilling, the two top ex-Enron executives federal investigators
claim were kingpins in one of the biggest scandals ever to rock corporate
America." ... "At the same time, the deal requires Causey to cooperate
with federal prosecutors honing their case against his onetime bosses and
raises the possibility of his taking the witness stand against them." -By
Jim Jelter -MarketWatch
20040712
-
- "Lay
surrenders to authorities: Ex-Enron CEO turns himself
in after indictment, pleads not guilty in massive accounting fraud." ...
"In the 11-count indictment, Lay was accused of lying to the public, investors
and Enron employees in charges that include securities and wire fraud and
making false statements." ... "He pleaded not guilty to all charges and
was released on $500,000 bail." ... "In a related move, the Securities
and Exchange Commission accused Lay in a civil complaint that seeks more
than $90 million. It also seeks to bar him from serving as an officer or
director of a public company." -By Krysten Crawford
with contributions by Jen Rogers -CNN
20040707
-
-
- "Enron's
Lay indicted: Former Enron CEO [Kenneth Lay] indicted
by grand jury in Houston, says he's "done nothing wrong."" ... "Enron filed
for bankruptcy Dec. 2, 2001 after investigators found it had used partnerships
to conceal more than $1 billion in debt and inflate profits. The company
once ranked as the country's seventh-largest." ... "To date the federal
government has launched 30 separate prosecutions related to Enron's implosion,
including a criminal case that brought down auditor Arthur Andersen two
years ago and criminal probes of about 20 former Enron employees. Of those,
11 have resulted in convictions or guilty pleas." -By
Krysten Crawford and Kelli Arena -CNN
-
-
-
- [PDF]
"United
States of America V. Richard A. Causey, Jeffrey K. Skilling, and Kenneth
Lay, Defendents." [65 pages] ... "Superseding
Indictment." -From the "United States District Court
Southern District of Texas Houston Division." via
-FindLaw /LegalNews/Documents
20040115
-
-
- "Ex-Enron
executive, wife plead guilty: Andrew Fastow is the
highest-ranking Enron executive to plead guilty in the scandal surrounding
the energy company's dramatic disintegration." ... "Andrew Fastow, chief
architect of the off-the-books deals that brought down Enron, pleaded guilty
along with his wife Wednesday in a deal that could take prosecutors to
the top of the corporate ladder at the scandal-ridden company." ... "The
former finance chief agreed to a 10-year prison sentence and will help
prosecutors build a case against the executives who once occupied the most
opulent offices on the company's top floor: former Chairman Kenneth Lay
and former Chief Executive Jeffrey Skilling." -By
Kristen Hays-Miami/Herald
20020214
-
"Comics
laugh all way to bank at the expense of Enron execs." ...
""You know what Ken Lay had for breakfast this morning? Shredded wheat,"
Jay Leno jokes." ... "Dennis Miller asks: "Wouldn't it be great if all
of Osama bin Laden's money was tied up in Enron stock?""
-AP via -HoustonChronicle.com
20020205
-
"Enron
lapses and corporate ethics: New questions
surface about corporate leaders as Kenneth Lay testifies before Congress
today." -By Kris Axtman and Ron Scherer
-CSMonitor/buy
20020201
-
"Some
of Enron chief's recommendations got jobs."
Both the Chairman of the Federal Energy Regulatory Commission (FERC.gov),
Pat Wood, and commission member Nora Brownell, received jobs from President
Bush's administration after recomendations by Ken Lay.
-AP via -USATODAY
20020124
-
"Lay
could pocket almost $17 million: Enron chair,
CEO resigned for company's survival." -By Lisa Sanders
& Allen Wan, -CBSnews/MarketWatch
20020115
-
"Enron
Chief Was Warned of Problems: A top officer's memo
to Chairman Lay, found by congressional investigators, cautioned that "funny
accounting" practices could embroil the firm in scandal."
-By Edmund Sanders, Richard Simon, and David Streitfeld -LAtimes
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
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Ken Lay
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| TheSmokingGun.com
has archived the Bush-Lay
correspondence "exchanged during the years Bush served as governor
of Texas," released by the Austin state archives. |
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