Turns out Ken Lay infamous founder of Enron will not see the inside of a prison after all. Ken Lay died of an unexpectedly of a “massive coronary.” Ken Lay was scheduled to be sentenced Oct. 23 for defrauding Enron investors and employees.
He was taken to Aspen Valley Hospital, where he was pronounced dead at 3:11 am.
Lay had built Enron into a high-profile, widely admired company, the seventh-largest publicly traded in the country. But Enron collapsed after it was revealed the company’s finances were based on a web of fraudulent partnerships and schemes, not the profits that it reported to investors and the public.
The end of Ken Lay’s quest
In the end it would appear that Lay even managed to defraud the justice system as he will wind up spending none of his sentence in prison.
Lay, of course, was convicted at the end of May of fraud and conspiracy arising from the collapse of Enron. He and co-defendant Jeff Skilling were awaiting sentencing in October. Both men were expected to serve at least fifteen years in jail – which for the 64-year old Lay was tantamount to a life sentence.