Posted on 10/17/2006 2:05:02 PM PDT by aculeus
HOUSTON -- A federal judge Tuesday vacated the conviction of Enron founder Kenneth Lay who died in July, wiping out a jury's verdict that he committed fraud and conspiracy in the months before his company's collapse.
Mr. Lay was convicted of 10 counts of fraud, conspiracy and lying to banks in two separate cases on May 25. Enron's collapse in 2001 wiped out thousands of jobs, more than $60 billion in market value and more than $2 billion in pension plans. Mr. Lay died of heart disease July 5 while vacationing with his wife, Linda, in Aspen, Colo.
U.S. District Judge Sim Lake, in a ruling Tuesday, agreed with Mr. Lay's lawyers that his death required erasing his convictions. (Read the text of the ruling.) They cited a 2004 ruling from the 5th U.S. Circuit Court of Appeals that found that a defendant's death pending appeal extinguished his entire case because he hadn't had a full opportunity to challenge the conviction and the government shouldn't be able to punish a dead defendant or his estate.
(Excerpt) Read more at online.wsj.com ...
He gave up ~$30 million in assets as part of his plea agreement.
DOES ANYONE KNOW IF JUDGE SIM LAKE WAS APPOINTED BY A DEMOCRAT OR IS A REGISTERED DEMOCRAT???...RTO
30 mil is a drop in the bucket.
The wife and her family are among the wealthiest in Texas - so I hear.
Of course, I don't see their tax returns but...
The wife and her family are among the wealthiest in Texas - so I hear.
thanks...rto
Until there is a story to start a thread with:
Skilling just got 24 years in prison ... federal time, no parole
Still waiting for him to come out of the courthouse or to see if he is taken straight to federal prison
I wonder how long it takes for U.S. news to hit the papers in Costa Rica?
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