Enron chief dies of heart attack

24-08-2006

Disgraced Enron founder Ken Lay has died of a massive heart attack, it has been confirmed.

The 64-year-old former chairman of Enron, the Houston-based company which became the worst case of corruption in corporate history in 2001, died in his home in Aspen, Colorado.

Lay served as Enron's chief executive for all of its history apart from an 11-month long period when Jeffrey Skilling, his co-conspirator, took over. Both he and Skilling lied about Enron's financial situation, selling their shares in the company while encouraging shareholders to hang onto theirs and even buy more.

Only six weeks ago Lay had been found guilty of conspiracy, wire fraud and securities fraud after a lengthy trial. He was due to have been sentenced for his crimes in October.

During his trial he testified that, having achieved the American dream, he had "also achieved the American nightmare".

Lay leaves behind his wife Linda and five children.

A spokesperson for Lay's family told CNN that more details would be released shortly.


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