Judge vacates conviction of late Enron founder Kenneth Lay

[TheShooter 0]

Summary: Since he's dead and didn't have a chance to appeal his case, the govenment can't get their hands on the $40+ million that he stole.

 

Even more evidence that he's not really dead?

 

HOUSTON — A federal judge has vacated the conviction of Enron founder Kenneth Lay, who died in July, wiping out a jury's verdict that he committed fraud and conspiracy in the months before his company's collapse.

 

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 a defendant's death pending appeal extinguished his entire case because he didn't have a full opportunity to challenge the conviction and the government shouldn't be able to punish a dead defendant or his estate.

 

His co-defendant, former Enron CEO Jeff Skilling, is scheduled to be sentenced on Monday.

 

Tuesday's ruling thwarts the government's bid to seek $43.5 million in ill-gotten gains prosecutors allege that Lay pocketed by participating in Enron's fraud. The government could still pursue the money 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."

[SuperJerk 0]

#$%#$%#$!!!!111

[Spicy McHaggis 0]

What a bunch of bullshit. Perhaps Vyce can elucidate.

[Art Sandusky 0]

You've gotta be kidding.

[Guest InuYasha]

So, because God decided to rightfully smite him, his family gets to keep his money? I'd be willing to bet that judge has some rather large skeletons in his closet.

[Perfxion 0]

So, its unfair to his family's estate that died right after being found guilty of robbing a company blind, plus shareholders, employees, and half of fucking Houston? What the fuck is this bullshit?