It’s hard to feel good about anyone’s passing, although any sympathy generated here is reserved for the deceased’s family, what with him causing so much hardship for the many thousands of employees and investors that mistakenly put their trust in him and suffered grievously for it.
The 64 year old ex-Enron CEO, who along with Jeff Skilling was convicted in court earlier this year of gross financial impropriety (fraud and conspiracy) with the once high flying energy trading company, died in Aspen, Colorado earlier this morning of a massive coronary.
Jail probably would have been an especially difficult proposition for Mr. Lay, considering his years as a corporate tycoon, community leader and the lavish lifestyle to which he’d become accustomed. Depending on the severity of his sentence, which was due to be delivered September 11th this year, there’s a good chance the rest of his life would have been spent behind bars. Instead, he passed at a luxury Colorado resort surrounded by loved ones. Maybe this was for the best.
From what I understand, his death may have little bearing on the civil suits against his estate since his criminal trial testimony is there in the public record. Does anyone know if his sentence will still be handed down? Does the pending litigation require that it still be issued?
For those that were burned or suffered hardship because of this man, I hope his passing will allow them to help put the past to rest and experience whatever peace that may accompany it. Ken’s gone off to an even bigger judgement and I believe most can be quite satisfied that his moral culpability will be made clear and his punishment will be appropriate.