Ken Lay Croaks

[Vanguard]

Re: Ken Lay Croaks

I also read something about how Lay did not get to exhaust all his appeal rights and the law in that jurisdiction holds that if one dies before the appeals have been run, the conviction itself is erased because that person would never get the chance to possibly prevail upon appeal. Therefore, the victims in the Enron case would probably not get to recover based upon Lay's convinction because his conviction will probably be expunged since he died before he exhausted his appeals. There is a possibility that the victims could sue Lay's estate in civil court, but if his assets are mainly in insurance and retirement funds and his spouse is his beneficiary, the insurance and retirement fund laws provide strong creditor protection based upon the public policy of not wanting to leave a surviving spouse impoverished.

http://lawprofessors.typepad.com/whi...y_dies_of.html

"the appeal does not just disappear, and the case is not merely dismissed. Instead, everything associated with the case is extinguished, leaving the defendant as if he had never been indicted or convicted."

United States v. Estate of Parsons, 367 F.3d 409 (5th Cir. 2004)

In Parsons, the court vacated a forfeiture order, which means that the government's forfeiture claim against Lay for $43.5 million will be dismissed. (quotes from above linked article)

[kimo55]

Re: Ken Lay Croaks

We, in America will never actually be "free", until we destroy, abolish and eliminate the corrupt, warped, completely imbalanced "legal system" which has ab-so-LUTE-ly NO-thing whatsoever to so, with "justice".

[MadAzza]

Re: Ken Lay Croaks

We, in America will never actually be "free", until we destroy, abolish and eliminate the corrupt, warped, completely imbalanced "legal system" which has ab-so-LUTE-ly NO-thing whatsoever to so, with "justice".

Are you Al Sharpton's speechwriter now?

[Mahi Waina]

Ken Lay Still Alive?

Conspiracy nuts are convinced that Ken Lay is still alive. Certainly, the "Shadow Government" has the where-with-all to pull it off, and they have shown that they take care of their own.

When I tried to access the site alluded to in the following forum, it was shut down:

http://forums.santacruzsentinel.com/...c;f=7;t=000228

Who knows, maybe he is hiding where the WMD's are.

[Miulang]

Coincidence or just bad luck?

Hmmm...Ken Lay's former cronies seem to be dropping like flies. At his memorial service yesterday, the former Mayor of Houston (a close friend of the family) collapsed during the service.

And then today, a member of Britain's banking industry who allegedly had ties to the Enron scandal was found dead on the banks of a river in England. Man, if being a buddy of Ken Lay wasn't bachi, I dunno what bachi is (and neither apparently did the people who found the Hope Diamond )

Miulang

[damontucker]

Re: Ken Lay Croaks

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.

http://news.yahoo.com/s/ap/20061017/...i_ge/enron_lay
So he dies with a clean record after all

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.

[Miulang]

Re: Ken Lay Croaks

His tombstone can now read: "See? I told you I was innocent!"

Miulang

[oceanpacific]

Re: Ken Lay Croaks

A curiosity question...
If Lay did, in fact, commit suicide would there still be an insurance payout to his heirs? Or, does suicide make a policy null and void?

Only if the suicide occured within the suicide clause (within one to two years of policy issue). Beyond that, the policy is valid. But, life insurance proceeds are generally protected from creditor claims or civil suit judgments..