Judge Vacates Conviction of Ken Lay
Enron founder Kenneth Lay's criminal record is now clean.
A federal judge ruled Tuesday that Lay's death this summer vacated his conviction on fraud and conspiracy charges connected to the downfall of the once mighty energy giant.
wasn't he the guy, who, ummm....
Lay was convicted of 10 counts of fraud, conspiracy and lying to banks in two separate cases on May 25. He died of heart disease July 5 while vacationing with his wife, Linda, in Aspen, Colo.
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.
that's right!! he died....
must of had some good attorneys...?
Lay's attorneys argued that legal precedent called for his convictions to be erased and his indictment dismissed.
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.
well, at least the family can have some closure now. they are probably penniless after paying all of those attorney fees.....
"On behalf of his estate, I'm really quite pleased with the ruling and glad this brings to a close the criminal proceeding against Mr. Lay," said Samuel Buffone, the attorney for Lay's estate.
what about the OTHER SIDE?
U.S. District Judge Sim Lake agreed with them, saying prosecutors had not "raised any legal basis for denying the rule's application in this case … ."
and who picks and pays the prosecutors to challenge Lay's estate?
Maybe the article here from JURIST may explain some things