DarrylS

A Republican Activist Judge throws out the conviction of Ken Lay, thus leaving any possible reparation down the flusher for the Enron folks who were hoping to get a pittance from this thief.

http://www.chron.com/disp/story.mpl/front/4267258.html

The criminal case against Ken Lay came to an end Tuesday when a judge vacated his convictions and dismissed the indictment that brought him to trial.

U.S. District Judge Sim Lake granted the request by Lay's estate to wipe out the convictions against the late Enron chairman, an outcome that was widely anticipated, given legal precedent. Lake also dismissed the indictment that was filed against him in 2004.

In his ruling, Lake cited a decision in the 5th Circuit Court of Appeals that makes a defendant's death before his or her appeals have been exhausted grounds for throwing out a conviction and dismissing an indictment.

The Department of Justice had argued against vacating the conviction, saying it would unjustly enrich Lay's estate by preventing criminal forfeiture proceedings to recover restitution for victims of Enron's downfall.

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FreeTedWilliams

The judge vacated the conviction, because the man is DEAD! WHich makes him unable to pursue an appeal of his conviction. What the judge did do, is make sure that the civil suits agaisnt Ley were allowed to continue. This is routine and settled case law, nice try.....

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DarrylS

It is no less true or less biased than any other thread on this board.. somethings are posted tongue in cheek.

__________________
"Being the best doesn't mean you always win. It just means you win more than anyone else".. tweet from Kurt Warner to Tom Brady.

FreeTedWilliams

Actually the US Attorney's office really screwed up here, in federal cases, you are not considered "convicted" until you are sentenced. I don't think that Ley lived to reach his sentencing. But the real kicker here, is that the assest forfeiture provisions of his conviction, also only go into effect at sentencing.

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The Jets look like a Super Bowl contender right now about as much as Rosie O’Donnell looks like a threat for the Miss America crown. -NY Post 12/19/2011


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BelichickFan

Whatever, it's just the way the law works. He wasn't sentenced and died without the opportunity to appeal. Everyone who "lost" money in Enron put most of the money there by choice. OK so Kenny advised them to. So what. It was their choice. And a large amount of their losses was losing what they'd already gained in Enron stock.

Pujo

Look, there's the legal issue of the conviction of a dead person being set aside if they die before getting to appeal, which is based on case law and and is routine. But his conviction being set aside has nothing to do with his innocence, or that his victims should have known better. These were employees who had their money in the company's retirement fund - they had a legally binding expectation that their money wouldn't be used on parties for Ken Lay's wife. The they should have known better defense at least requires informed consent.

QuiGon

Bullcrap. You got caught lying outright in a feeble attempt to make Republicans look bad and you got called - and humiliated - on it. Now you are backtracking as fast as possible by trying to claim the remarks were "tongue in cheek".

Nice try. Actually, no it wasn't.

QuiGon

No offense, but you show a certain amount of ignorance regarding what exactly happened at Enron. Newsflash: The company was worth billions of dollars (on paper, that is) and they didn't go belly up because Ken Lay threw a lavish party for his wife.

Nobody deserves to lose all their life's savings, but when you are stupid enough to invest your entire life's savings in one company, then that's the chance you take and I have very little sympathy for people who are stupid with their own money.

Pujo

They had no choice, it was a retirement fund and Enron got to invest it however they wanted, including into Enron.

BelichickFan

That basically sums it up. The people who lost money don't deserve anything. I have all my retirement money in diversified mutual funds. So I only average about 10% a year. Poor me. I could pick a company, Exxon, Wal Mart, take your pick, and put it all in there. Maybe I'd win big. Maybe I'd lose big. But that's no different than the Enron employees. They gambled and lost. Too bad, they should have played it safe with their money instead of thinking Enron was a golden goose that would give, give and keep giving. The only thing stupider than investing all your money in one company is investing all your money in the company you work for.