Enron Explained

The man who founded Enron, Kenneth Lay, has died just weeks before his jail sentence was to be announced. Mark Tran and Stefanie Khaw look at one of America's biggest business scandals

Thursday July 6, 2006
Guardian Unlimited

What is the latest development with Enron?

Kenneth Lay, the Enron founder, died of a "massive" heart attack on July 5 at his holiday home in Aspen, the exclusive Colorado ski resort. He was 64. In May, Lay was found guilty of six counts of fraud and conspiracy and was due to be sentenced in September. He expected to spend the rest of his life in prison. Lay is the second top Enron executive to die since the company collapsed. In 2002, Clifford Baxter was found dead after shooting himself in a Houston suburb.