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HOUSTON _ A federal judge Tuesday vacated the conviction of Enron's late founder Kenneth Lay, wiping out a jury's verdict that he committed fraud and conspiracy in one of the biggest corporate frauds in U.S. history.
Tuesday's ruling thwarts the government's bid to seek $43.5 million in ill-gotten gains prosecutors allege he pocketed by participating in Enron's fraud. The government could still pursue those gains in civil court, but they would have to compete with other litigants, if any, also pursuing Lay's estate.
Prosecutors asked Lake to delay this ruling until Monday, the scheduled sentencing date, so Congress can consider legislation from the Justice Department that changes current federal law regarding the abatement of criminal convictions. Congress recessed for the elections without considering the legislation.
Originally posted by mecheng
Well... How convenient! Because of his "death" his conviction has been "erased". I'm interested to know now, what if anything, will happen to his estate. I wouldn't be suprised to start hearing rumors of Ken Lay sightings in Argentina.
Originally posted by mecheng
Gee, I wonder why? Anyone feel like looking into connections between Lay and Judge Lake possibly by way of Bush?
Originally posted by Dr Love
I'm comfortable with the fact that he will have to answer to his maker at some point.
Ken loved Enron, and saw the company as one of limitless possibilities.
Originally posted by c3hamby
Why does every single thing have to be a conspiracy? Maybe it is...but why do we have to jump to that conclusion? I mean, it almost seems that it would make headlines if everybody accepted everything a face value.