Ex-Enron CEO Lay Indicted for Scheme

Ex-Enron CEO Kenneth Lay Was Involved in a Scheme to Deceive Public, Others, Indictment Says

The Associated Press/ July 8, 2004

Enron Corp. founder and former chairman and CEO Kenneth Lay was involved in a wide-ranging scheme to deceive the public, company shareholders, government regulators and others, according to an indictment unsealed Thursday.
The federal indictment, which adds Lay to charges already filed against his hand-picked protege, former CEO Jeffrey Skilling, and former top accountant Richard Causey, accuses Lay of participating in a conspiracy to manipulate Enron's quarterly financial results, of making public statements about Enron's financial performance that were false and misleading and omitting facts necessary to make financial statements accurate and fair.

The contents of the indictment were released a few hours after Lay, who says he committed no crimes at the scandal-ridden energy company, was taken away in handcuffs after turning himself in to the FBI Thursday morning to face criminal charges.

<< HOME