[tag]Ken Lay[/tag], the founder and former CEO of [tag]Enron[/tag], was recently convicted of federal felonies related to one of the largest frauds in U.S. History.
He died today in Colorado, at the age of 64. Lay was admitted to Aspen Valley Hopsital with a massive coronary at 1:41 am and was pronounced dead at 3:11am.
Lay was awaiting sentencing on the [tag]conspiracy[/tag] and [tag]fraud[/tag] charges he was convicted of in May.
The Houston Chronicle gives this history of Lay and Enron:
Lay and Jeff Skilling, the only two chief executives Enron had before it filed for bankruptcy in December 2001, were convicted May 25 of conspiracy and fraud. Prosecutors said they duped investors about Enron’s balance sheet and the very nature of its business.