Lay’s Name Cleared, Skilling's Fate Unknown

Law360, New York (October 18, 2006, 12:00 AM EDT) -- A Texas judge has tossed the conviction of recently deceased Enron founder Ken Lay, which means former CEO Jeffery Skilling could end up shouldering the entire $183 million forfeiture demanded by federal prosecutors.

Judge Sim Lake threw out Lay’s conviction, ruling that since he cannot file an appeal in the case, the verdict cannot stand.

Lake’s ruling prevents the government from seizing the $43 million that it has demanded from the former executive. In anticipation of the decision, the government’s Enron Taskforce has been looking to...
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