The criminal conviction of Kenneth Lay has been vacated

[tag]Ken Lay[/tag], the former chairman of Enron Corp., has had his criminal conviction on [tag]fraud [/tag] and [tag]conspiracy[/tag] charges vacated. He was convicted on May 25, 2006, and died from a massive coronary on July 5, 2006.

The law in the Fifth Circuit states that if a defendant dies before having an opportunity to [tag]appeal[/tag] a conviction, that the [tag]conviction[/tag] must be taken off his record. The federal government argued that Ken Lay’s estate shouldn’t be able to keep the proceeds of fraud, which should be forfeited and distributed to the victims of his crimes. The judge rejected the argument, saying that those who were defrauded could pursue the matter in civil court.

The Justice Department has said that they will continue to pursue [tag]restitution[/tag] on behalf of the [tag]Enron[/tag] fraud victims.

Related posts:

1. Jeffrey Skilling of Enron fame asks for a new trial
2. Former Enron executive reports to prison
3. Former Enron executive Jeffrey Skilling begins his prison sentence
4. Enron’s ex-CEO will testify this week
5. Ken Lay considered innocent after his death