(2006-07-07) Lay Died

Enron's Kenneth Lay died a couple days ago. He was convicted in May on six counts of fraud and conspiracy and four counts of bank fraud, and was free on a $5 million bond while awaiting his sentencing, which was scheduled for this fall.

The New York Post cover showed his picture with a coffin and the title "Check He's In It".

His lawyers will probably ask to have his conviction vacated. This would make it impossible to use the criminal court system to claw back his assets (though civil courts could still be used).

• ah this is because he had not yet exhausted his right to appeal.

I wonder whether Jeffrey Skilling and/or Andy Fastow will get a Presidential Pardon from George W Bush? Does any Idea Futures market have that bet running yet?

The Reverend Dr. Bill Lawson compared Lay with civil rights leader Martin Luther King Jr. and Jesus Christ, and said his name would eventually be cleared.