The poster boy for corporate corruption, Kenneth Lay, the convicted CEO of Enron died of a heart attack. [Houston Chronicle] Apparently the government will have to go after his estate for the $45.3 million that he earned from the Enron scandal. This is a shame, because he didn't live to be sentenced in October. Jeffery Skilling, the other executive who was convicted in the Enron case will more than likely not be sentenced to the same degree that Lay would have been. His death means the loss of potential to set stare decisis in cases of corporate fraud. His influence on the corporate culture, and his unethical business practices showcase the worst in humanity. Ken Lay is what happens when a rich person decides that the law is the only thing keeping them from being just a little richer.
3 comments:
Skilling will be sentenced much harsher than Ken Lay. He was the gang leader of the whole deal and the prosecuters and the judge are quite aware of that.
I was not refering to Mr. Skilling's role in the Enron scandal. I was instead refering to a legal loophole that has been opened by Lay's death which could allow Skilling to get off with no time, and keep the federal government from ceasing Lay's ill gotten assets. Read about it at the Toronto Globe and Mail.
http://www.theglobeandmail.com/servlet/story/LAC.20060707.IBENRON07/TPStory/Business
[Toronto Globe and Mail Link]
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