Washington, July 5 (Xinhua) Enron Corporation founder Kenneth Lay, who was convicted for his role in one of the biggest frauds in the US corporate history, died of a heart attack Wednesday at his vacation home in Colorado.
The Lay family issued a brief statement saying that Lay, 64, passed away early this morning in Aspen, Colorado.
'The Lays have a very large family with whom they need to communicate. And out of respect for the family, we will release further details at a later time,' said the statement.
Lay was scheduled to be sentenced on Oct 23. The widespread expectation was that he was to receive a long prison sentence, perhaps 20 years or more.
Lay and former Enron chief executive Jeffrey Skilling were convicted of fraud and conspiracy for hiding the financial ruin at Enron, which collapsed into bankruptcy in December 2001.
© 2006 Xinhua |