Judge vacates conviction of Enron's Ken Lay - GoFuckYourself.com

DateDoc · 10-17-2006, 02:21 PM

This is fucked up!!!

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.

Lay was convicted of 10 counts of fraud, conspiracy and lying to banks in two separate cases on May 25. Enron's collapse in 2001 wiped out thousands of jobs, more than $60 billion in market value and more than $2 billion in pension plans.

Lay died of heart disease July 5 while vacationing with his wife, Linda, in Aspen, Colo.

U.S. District Judge Sim Lake, in a ruling Tuesday, agreed with Lay's lawyers that his death required erasing his convictions. They cited a 2004 ruling from the 5th U.S. Circuit Court of Appeals that found that a defendant's death pending appeal extinguished his entire case because he hadn't had a full opportunity to challenge the conviction and the government shouldn't be able to punish a dead defendant or his estate.

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.

"Certain provisions of the (legislation) would be directly relevant to the situation presented by defendant Lay's death," prosecutors Sean Berkowitz and John Hueston wrote in their motion. "For example ... the (legislation) provides that the death of a defendant charged with a criminal offense shall not be the basis for abating or otherwise invalidating either a verdict returned or the underlying indictment."

Enron crumbled into bankruptcy proceedings in December 2001.

Lay's co-defendant, former Enron chief executive Jeffrey Skilling, is scheduled to be sentenced on Monday.

Trax · 10-17-2006, 02:28 PM

hes dead
who cares
seriously

squishypimp · 10-17-2006, 02:29 PM

yeah hes dead....

C-Bass · 10-17-2006, 02:30 PM

he fucked over thousands of families over his greed.......u think thats ok just cause he's dead?

they should bring his ass back to life and kill him again......a couple of times.

dynastoned · 10-17-2006, 02:34 PM

wait so his wife gets to keep all that money that he left behind now?

DateDoc · 10-17-2006, 02:37 PM

Quote:

Originally Posted by dynastoned

wait so his wife gets to keep all that money that he left behind now?

BINGO!!!!!!!

DateDoc · 10-17-2006, 02:56 PM

Quote:

Originally Posted by pornopete

Think of the precident this sets!!! Now I can commit major fraud and get away with it if I do! I'll be scott-free!

scott-free and dead!

engorgecash · 10-17-2006, 03:34 PM

Quote:

Originally Posted by Trax

hes dead
who cares
seriously

You seriously do not believe he 'conveniently' died now. Do you?

You are utterly sTOOOPIT.

tony286 · 10-17-2006, 04:55 PM

Quote:

Originally Posted by engorgecash

You seriously do not believe he 'conveniently' died now. Do you?

You are utterly sTOOOPIT.

i have agree with you , it fit too nicely.

10-17-2006, 02:21 PM	#1
DateDoc Outside looking in. Industry Role: Join Date: Feb 2005 Location: To Hell You Ride Posts: 14,243	Judge vacates conviction of Enron's Ken Lay This is fucked up!!! 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. Lay was convicted of 10 counts of fraud, conspiracy and lying to banks in two separate cases on May 25. Enron's collapse in 2001 wiped out thousands of jobs, more than $60 billion in market value and more than $2 billion in pension plans. Lay died of heart disease July 5 while vacationing with his wife, Linda, in Aspen, Colo. U.S. District Judge Sim Lake, in a ruling Tuesday, agreed with Lay's lawyers that his death required erasing his convictions. They cited a 2004 ruling from the 5th U.S. Circuit Court of Appeals that found that a defendant's death pending appeal extinguished his entire case because he hadn't had a full opportunity to challenge the conviction and the government shouldn't be able to punish a dead defendant or his estate. 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. "Certain provisions of the (legislation) would be directly relevant to the situation presented by defendant Lay's death," prosecutors Sean Berkowitz and John Hueston wrote in their motion. "For example ... the (legislation) provides that the death of a defendant charged with a criminal offense shall not be the basis for abating or otherwise invalidating either a verdict returned or the underlying indictment." Enron crumbled into bankruptcy proceedings in December 2001. Lay's co-defendant, former Enron chief executive Jeffrey Skilling, is scheduled to be sentenced on Monday. __________________

10-17-2006, 02:29 PM	#3
squishypimp PostMaster General Join Date: Aug 2006 Posts: 10,781	yeah hes dead.... __________________ Signature For Sale

10-17-2006, 02:30 PM	#4
C-Bass Confirmed User Join Date: Apr 2003 Location: th3 1nt3Rwebz Posts: 3,153	he fucked over thousands of families over his greed.......u think thats ok just cause he's dead? they should bring his ass back to life and kill him again......a couple of times. __________________ "Unhappy with the riches 'cause you're piss poor morally." Trade traffic? - Highdef Blog

10-17-2006, 02:28 PM	#2
Trax [----------------------] Join Date: Aug 2001 Posts: 14,486	hes dead who cares seriously

10-17-2006, 02:34 PM	#5
dynastoned mmm yeah! Industry Role: Join Date: Feb 2005 Location: roseville, ca Posts: 5,061	wait so his wife gets to keep all that money that he left behind now?