If it's guilty, how long will ken lay live? Or do yall think that klinton got all those millions for books?
More importantly, how long will Ken Lay's assets remain intact? A lot of legal minds are curious if this might be the end of the "limited Partnership" asset protection, where he has buried all his wealth.
Copyright 2006 Houston Chronicle
On paper, it may appear the maximum prison sentences former Enron executives Jeff Skilling and Ken Lay could face if convicted on all counts add up to many, many decades. In reality, however, experts say the men would probably see sentences of between 12 years and 25 years if they were convicted on all charges. This includes Lay's bank charges, which were tried separately.
| COUNT | CHARGE | MAXIMUM SENTENCE (YEARS) |
VERDICT |
| 1 | Conspiracy to commit securities and wire fraud | 5 | |
| 2 | Securities fraud (Raptor transactions) | 10 | |
| 14 | Securities fraud (Financial statements, 1999 10K, March 30, 2000) | 10 | |
| 16 | Securities fraud (Financial statements, 2nd quarter 2000 10Q, Aug. 14, 2000 | 10 | |
| 17 | Securities fraud (Financial statements, 3rd quarter 2000 10Q, Nov. 14, 2000) | 10 | |
| 18 | Securities fraud (Financial statements, 2000 10K, April 2, 2001) | 10 | |
| 19 | Securities fraud (Financial statements, 1st quarter 2001 10Q, May 15, 2001) | 10 | |
| 20 | Securities fraud (Financial statements, 2nd quarter 2001 10Q, Aug. 14, 2001) | 10 | |
| 22 | Securities fraud (Analyst call — Jan. 22, 2001) | 10 | |
| 23 | Securities fraud (Analyst conference in Houston — Jan. 25, 2001) | 10 | |
| 24 | Securities fraud (Analyst call — March 23, 2001) | 10 | |
| 25 | Securities fraud (Analyst call — April 17, 2001) | 10 | |
| 26 | Securities fraud (Analyst call — July 12, 2001) | 10 | |
| 31 | False statements to auditors in annual representation letter (1999 10K; March 13, 2000) | 10 | |
| 32 | False statements to auditors in annual representation letter (2000 10K; Feb. 23, 2001) | 10 | |
| 34 | False statements to auditors in quarterly representation letter (2000 2nd quarter 10Q; August 11, 2000) | 10 | |
| 35 | False statements to auditors in quarterly representation letter (2000 3rd quarter 10Q; Nov. 13, 2000) | 10 | |
| 36 | False statements to auditors in quarterly representation letter (2001 first quarter 10Q; May 15, 2001) | 10 | |
| 42 | Insider trading ($739,000 on April 25, 2000) | 10 | |
| 43 | Insider trading ($6.34 million on April 26, 2000) | 10 | |
| 44 | Insider trading ($1.29 million* on Aug. 30, 2000) | 10 | |
| 45 | Insider trading ($5.22 million* on Sept. 1, 2000) | 10 | |
| 46 | Insider trading ($972,000* on Sept. 5, 2000) | 10 | |
| 47 | Insider trading ($6.04 million* on Nov. 1, 2000) | 10 | |
| 48 | Insider trading ($1.65 million* on Nov. 2, 2000) | 10 | |
| 49 | Insider trading ($3.80 million* on Nov. 7, 2000) | 10 | |
| 50 | Insider trading ($20.99 million* on Nov. 15, 2000) | 10 | |
| 51 | Insider trading ($15.59 million*B115 on Sept. 17, 2001) | 10 |
| COUNT | CHARGE | MAXIMUM SENTENCE (YEARS) |
VERDICT |
| 1 | Conspiracy to commit securities and wire fraud | 5 | |
| 12 | Wire fraud (False/misleading statements in employee meeting Sept. 26, 2001) | 5 | |
| 13 | Wire fraud (False/misleading statements in employee meeting Oct. 23, 2001) | 5 | |
| 27 | Securities fraud (Rating agency call — Oct. 12, 2001) | 10 | |
| 28 | Securities fraud (Analyst call — Oct. 16, 2001) | 10 | |
| 29 | Securities fraud (Analyst call — Oct. 23, 2001) | 10 |
District Court Judge Sim Lake heard evidence on the four bank charges, listed below, against Ken Lay in a bench trial that began the day after jurors started deliberations. He is not expected to issue his verdict until after the jury issues the verdict in the main case. If convicted on all four counts Lay’s prison sentence could range from no time, since the banks did not lose money, to a likely maximum of six months per count. The sentences would most likely be served concurrently with each other and any sentence that comes from the other trial.
| COUNT | CHARGE | MAXIMUM SENTENCE (YEARS) |
VERDICT |
| 38 | Bank fraud (Line of credit agreement) | 30 | |
| 39 | False statements to banks (Bank of America) | 30 | |
| 40 | False statements to banks (Bank of America) | 30 | |
| 41 | False statements to banks (Compass Bank) | 30 |