Judge vacates conviction of Ken Lay By JUAN A. LOZANO, Associated Press Writer1 hour, 2 minutes ago HOUSTON — A federal judge Tuesday vacated the conviction of Enron's late founder Kenneth Lay, wiping out a jury's verdict that he committed fraud and conspiracy in one of the biggest corporate frauds in U.S. history. Lay was convicted of 10 counts of fraud, conspiracy and lying to banks in two separate cases on May 25. Enron's collapse in 2001 wiped out thousands of jobs, more than $60 billion in market value and more than $2 billion in pension plans. Lay died of heart disease July 5 while vacationing with his wife, Linda, in Aspen, Colo. U.S. District Judge Sim Lake, in a ruling Tuesday, agreed with Lay's lawyers that his death required erasing his convictions. They cited a 2004 ruling from the 5th U.S. Circuit Court of Appeals that found that a defendant's death pending appeal extinguished his entire case because he hadn't had a full opportunity to challenge the conviction and the government shouldn't be able to punish a dead defendant or his estate. Tuesday's ruling thwarts the government's bid to seek $43.5 million in ill-gotten gains prosecutors allege he pocketed by participating in Enron's fraud. The government could still pursue those gains in civil court, but they would have to compete with other litigants, if any, also pursuing Lay's estate. Prosecutors asked Lake to delay this ruling until Monday, the scheduled sentencing date, so Congress can consider legislation from the Justice Department that changes current federal law regarding the abatement of criminal convictions. Congress recessed for the elections without considering the legislation. "Certain provisions of the (legislation) would be directly relevant to the situation presented by defendant Lay's death," prosecutors Sean Berkowitz and John Hueston wrote in their motion. "For example ... the (legislation) provides that the death of a defendant charged with a criminal offense shall not be the basis for abating or otherwise invalidating either a verdict returned or the underlying indictment." Enron crumbled into bankruptcy proceedings in December 2001. Lay's co-defendant, former Enron chief executive Jeffrey Skilling, is scheduled to be sentenced on Monday. http://news.yahoo.com/s/ap/20061017/ap_on_bi_ge/enron_lay
Does a dubious, well-timed appeal become a cost-saving strategy for a terminally ill convict and/or his/her heirs?
Count me among the conspiracy wackos...either he cut a deal with the Govt and is still alive somewhere....or they killed him. No way he gets to tell all he knows. O.k...now back to the tin foil helmet to stop the alien transmissions.
When everyone he swindled gets their money back He can rot in hell I love how the state goes out of the way to make sure his family gets to keep his il-gotten gain "Well . . see his family didn't swindle the people. . so they should not be penalized for his wrong doings . . . just because they benefit from it and have all those people's cash does not mean they are responsible or should give them people their money back . . . I mean .. it was their husband/father. . .not them!!!" Rocket River Utterly Disgusting
Apparently Lay's wife said yesterday in a statement that this ruling doesn't absolve all of the "civil" suits pending.
Don't freak out. People can still sue his estate. They just can't say in court that he's been convicted already. It would have been helpful if they could. But, seeing as they were able to prove it in criminal court already, doing it again in civil court shouldn't be that hard.
exactly. i fail to see how having concerns about this ruling (no matter how legitimate they might be legally) is tantamount to not letting him rest in peace. it has nothing to do with him as a person. it has everything to do with his actions which perhaps caused thousands of people great harm.
