An American businessman and political donor who was the founder, chief executive officer and chairman of Enron Corporation. He was heavily involved in Enron's accounting scandal, which unraveled in 2001 into the largest corporate bankruptcy in U.S. history to that date, and was convicted on multiple counts of conspiracy and fraud in 2006.
Facts
Death PlaceSnowmass, Colorado, U.S. 1 Defining ContributionFounded, and served as chairman and chief executive officer of, Enron Corporation, formed from the 1985 merger of Houston Natural Gas and InterNorth. Convicted in 2006 on six counts of conspiracy and fraud for his role in the Enron accounting scandal and its 2001 bankruptcy, the largest in U.S. history to that date. 1 Cross-Tradition Connections
Associated With
Lay was the central executive figure in the scandal, convicted in 2006 on multiple counts of conspiracy and fraud.
Companies Founded
Companies Led
Sources
1. Wikipedia, Kenneth Lay
1. Wikipedia, Kenneth Lay
1. Wikipedia, Kenneth Lay
1. Wikipedia, Kenneth Lay
1. Wikipedia, Kenneth Lay
1. Wikipedia, Kenneth Lay
1. Wikipedia, Kenneth Lay
1. Wikipedia, Kenneth Lay
1. Wikipedia, Kenneth Lay
WikipediaCompanies Founded: Enron Corporation, Enron section, foundingView the Source 1. Wikipedia, Kenneth Lay
WikipediaCompanies Led: Enron Corporation, Enron section, leadershipView the Source 1. Wikipedia, Kenneth Lay
WikipediaAssociated With: Enron Scandal, scandal section, convictionView the Source Dissenting Readings (1 dissenting reading)
Associated With: Enron Scandal
Some accounts place the technical center of the fraud on Chief Financial Officer Andrew Fastow rather than on Lay: Fastow directed the off-books partnerships that concealed Enron's losses and personally profited from them, and is the figure prosecutors identified as having created and manipulated the scheme. Fastow nonetheless received the lightest sentence of Enron's top three (six years, after cooperating with prosecutors), while Lay, as chairman and chief executive, and Skilling, as chief executive, were held primarily accountable as the company's leadership and received the two convictions and the far longer sentence respectively.
A dissenting reading, from an independent laneWikipedia, Enron, Wikipedia
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