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WORLD / America

Facing prison, Lay believed he had future
(AP)
Updated: 2006-07-06 22:21

Just last week, Enron Corp. founder and convicted felon Kenneth Lay told his pastor he was at peace with his future, even if it included prison. Lay maintained that he was innocent of fraud and conspiracy in Enron's searing scandal that left thousands jobless and wiped out billions from investors.

The former corporate celebrity who ascended from near-poverty as a minister's son in Missouri to the pinnacle of America's business elite died Wednesday of what a county coroner said was heart disease while vacationing in Aspen, Colo. He was 64.


Enron founder Kenneth Lay, right, waits at a crossing as co-defendant Jeffrey Skilling walks up in the background as they go to the federal courthouse in the 11th week of his fraud and conspiracy trial Wednesday, April 12, 2006 in a Houston fiole photo. Lay, who was convicted of helping perpetuate one of the most sprawling business frauds in US history, has died of a heart attack in Colorado. He was 64. [AP]

"I know he looked to be in good health. He looked like things were going well for him. He was in church last Sunday," said his pastor, Steve Wende of Houston's First United Methodist Church.

Lay faced spending the rest of his life in prison after his convictions May 25 that ended a blockbuster trial stemming from one of the biggest business debacles in US history.

Wende said Lay told him last week that he was at peace with what he may face, and he bore no ill will toward jurors who convicted him.

"What he did feel like was that he had a future. He even brought up the subject of prison and said if he did go to prison, he felt like God could use him there," Wende said.

Scott Thompson, chief deputy coroner in Pitkin County, Colo., said Lay died of natural causes. Dr. Robert Kurtzman, Mesa County coroner in Grand Junction, Colo., said an autopsy showed Lay died of heart disease. He said there was evidence that Lay had also suffered a previous heart attack.

Lay was considered a visionary who had President Bush's ear during Enron's halcyon days, but his reputation and monumental wealth shattered with that of his company. He spent his last years optimistically insisting he was no criminal, even after he became a felon.

"I guess when you're facing the rest of your life in jail and in your heart you know you're an innocent man, I guess it's too much to bear," said close friend Willie Alexander of Lay's sudden death.

Lay had stayed out of the public eye since he and former Enron CEO Jeffrey Skilling were convicted May 25 of fraud and conspiracy for lying to employees and investors about Enron's financial health. Lay was convicted of six counts of fraud and conspiracy, while Skilling was convicted of 19 of 28 counts of fraud, conspiracy, insider trading and lying to auditors.

Lay also was convicted of bank fraud and lying to banks in a separate, non-jury trial related to his personal banking.

Lay was scheduled to be sentenced Oct. 23, along with Skilling, who also faces a long prison term. Lay's death will not affect the government's case against Skilling, who will appeal his convictions.

Skilling's lawyer, Daniel Petrocelli, described the ex-CEO as "devastated."

"Jeff and Ken worked closely over the years, and Jeff will miss him dearly," Petrocelli said.


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