It's May 21, 2024, 11:00:20 AM
Enron founder Kenneth Lay dies at 64AP - 1 hour, 1 minute agoHOUSTON - Enron Corp. founder Kenneth Lay, who was convicted of helping perpetuate one of the most sprawling business frauds in U.S. history, has died. He was 64. Nicknamed "Kenny Boy" by President Bush, Lay led Enron's meteoric rise from a staid natural gas pipeline company formed by a 1985 merger to an energy and trading conglomerate that reached No. 7 on the Fortune 500 in 2000 and claimed $101 billion in annual revenues.
Lay, who described himself as naturally optimistic, displayed no signs of ill health throughout the grueling four-month trial that started Jan. 30. His lead lawyer, Michael Ramsey, was sidelined for several weeks during the trial because of heart problems.