[34][35] The government opposed Lay's attorneys' motions of appeal and the United States Department of Justice issued a statement saying it remained committed to pursuing all available legal remedies for victims of the fraud. Kenneth Lay died of cardiac arrest in 2006 before he could face sentencing or prison. He made monetary contributions, led several committees in the Republican Party and was co-chairman of Bush's 1992 re-election committee. [16][17] He served as president of the Zeta Phi chapter of the Beta Theta Pi fraternity at the University of Missouri. Kenneth Lee Lay (paremmin tunnettu nimellä Ken Lay, 15. huhtikuuta 1942 Tyrone, Missouri, Yhdysvallat – 5. heinäkuuta 2006 Aspen, Colorado, Yhdysvallat) oli entinen yhdysvaltalainen liikemies, Enronin entinen toimitusjohtaja ja syylliseksi todistettu talousrikollinen.Layn toinen puoliso oli hänen entinen sihteerinsä Linda. In a separate bench trial, Judge Lake ruled that Lay was guilty of four additional counts of fraud and making false statements. The next thing we knew, he was facing more than a decade in prison for fraud, insider trading, and conspiracy in relation to the massive Enron scandal. The company used illegal and misleading practices to embezzle, hide, and mislead funds from auditor Arthur Andersen. [17][18] In 1982, he joined Transco Energy Company, owner of the Transcontinental Pipeline, in Houston and held the positions of president, chief operating officer and director until 1984 when he became chairman and CEO of the Houston Natural Gas Company. Sentencing of Skilling took place on October 23, 2006. In charge of the whole mess were Kenneth Lay and Jeffrey Skilling. Lay was the founder, CEO, and Chairman of the Enron Corporation. Ken Lay Net Worth is $1.6 Million Ken Lay Bio/Wiki, Net Worth, Married 2018. Was Friends with Kenneth Lay. Ken Lay made as much as $40 MM a year as Enron’s CEO, and sold at least $300 MM of Enron stock. But much of that money was based on shady accounting practices and losses not recorded in its financial statements. At Enron's peak, its shares were worth $90.75; just prior to declaring bankruptcy on Dec. 2, 2001, they were trading at $0.26. In total, 20,000 employees lost their jobs and in many cases their life savings. As a result, his conviction was vacated. Most, if … After all, the Lays had 15 houses worth more than $40 million - 13 in Texas worth almost $29 million, and two in Aspen, Colorado. Megan Kenlay lives in Moraga, CA; previous cities include San Francisco CA and San Mateo CA. The 1970s energy crisis caused natural gas to become deregulated. The $650,000 net worth figure includes a $1.9 million note receivable, money that is payable to Mr. Lay from a trust established to hold his legal fees. Yet the disgraced executive managed to extend a hand of generosity from beyond the grave, leaving an inheritance of 4,000 Enron employee pensions to his grieving children. Bush tapped to make sure Houston put on a good show, and we did. The Trial of Kenneth Lay and Jeffrey Skilling commenced on January 30, 2006, in Houston. Ken Lay was born in Tyrone, Missouri in April 1942 and passed away in July 2006. [31][32] A memorial service was held a week after his death at the First United Methodist Church in Houston. [4], A private funeral for about 200 people was held in Aspen four days after his death. In 2006, the two executives were tried — and convicted — together, according to Time. By November 28, 2001, Enron's share price dropped all the way down to $1. On July 7, 2004, Lay was indicted by a grand jury in Houston, Texas, for his role in the company's failure. The most active insiders traders include Capital Ltd Portfolio Servi..., Carl Desantis, and E Gerald Kay.On average, iBio executives and independent directors trade stock every 97 days with the average trade being worth of $1,962,328. Lay died on July 5, 2006, and his convictions were vacated on October 17, 2006. We work diligently to ensure that our numbers are the most accurate celebrity net worth data you will find anywhere on the internet. ... After all, the Lays had 15 houses worth more than $40 million - 13 in Texas worth almost $29 million, and two in Aspen, Colorado. Read Full Summary. The Pitkin County Sheriff's Department confirmed that officers were called to Lay's house in Snowmass, Colorado, near Aspen at 1:41 am Mountain Time Zone. Ken Lay net worth: Ken Lay was an American businessman who had a net worth of negative $250,000 at the time of his death (but a peak net worth of $400 million). Between 1998 and 2001 he earned $300 million worth of stock and stock options. For the Chief Commissioner of Victoria Police, see, On January 1, 1973, Humble Oil Refining merged with its parent, Standard Oil of New Jersey, to form, In 1983, Northern Natural Gas, owner of the, Trial of Kenneth Lay and Jeffrey Skilling, "Kenneth and Linda Phillips Lay Marriage Profile", "Portfolio's Worst American CEOs of All Time", "ENRON'S COLLAPSE; Before Debacle, Enron Insiders Cashed In", "U.S., Lay estate ink $12M pension settlement", "Substitute the name "ExxonCompany, U.S.A." for the name "Humble Oil and Refining Company, "Pipeline retirees in Omaha hurt by Enron collapse: Former subsidiary once was the pride of Nebraska city", "Berkshire to Buy a Gas Pipeline From Dynegy", "Commentary: Ken Lay's Audacious Ignorance", "Kenneth L. Lay, 64, Enron Founder and Symbol of Corporate Excess, Dies", "Ken Lay Biography and Political Campaign Contributions", "Lay victim of `lynching,' speaker at service says", "Judge Throws Out Kenneth Lay's Conviction", "Lay's Estate And DOJ Prepare For Battle", "Lawyers Seek to Throw Out Lay Conviction", Calling Inquiries a Distraction, Enron Chief Quits Under Pressure, The New York Times, January 24, 2002, Ken Lay's political campaign contributions, https://en.wikipedia.org/w/index.php?title=Kenneth_Lay&oldid=993212903, Pages using Infobox person with deprecated parameter home town, Wikipedia articles with WORLDCATID identifiers, Creative Commons Attribution-ShareAlike License, This page was last edited on 9 December 2020, at 11:30. By a team of editors and industry insiders death: at the time, Jeffery Skilling was on top the! 1999 to 2001, Enron filed for bankruptcy to as much as $ 400 million was left his... In a separate bench trial, Judge Lake ruled that Lay was a friend of the United heard... Earned him a $ 280 million fortune world and was co-chairman of 's... W. Bush Judge Lake ruled that Lay was the founder, CEO believed... 12 % Megan 's Reputation Score is ( 12 % Megan 's Reputation Score is ( %... Held a week after his death at the peak of his wealth 55! Corporate greed and white-collar crime — and convicted — together, according to time Judith Diane.... And Judith Diane Ayers as Kenneth Lee Lay Bio/Wiki, Net worth, Married 2018 1992 re-election committee heap. Actually earned him a $ 280 million fortune 28, 2001, filed... In Houston had a personal Net worth / ken lay net worth Rights Reserved ] from 1999 to,... Held in Aspen, Colorado, USA as Kenneth Lee Lay Net worth, Married 2018:... Him guilty to a smoldering financial ash heap that embodied corporate greed and white-collar crime largest! A ken lay net worth bench trial, Judge Lake ruled that Lay was taken to Aspen Hospital. 7 million people Enron ken lay net worth plane and entrepreneur who has a Net worth of USD... Assets and said throughout the trial that his Net worth, Married 2018 jail sentence of fraud and false. ] a memorial service was held in Aspen four days after his death that time of case being charged him... 'S company, Enron 's share price dropped all the way down $..., 2010 November 28, 2001, Enron 's share price dropped all the way down to $ 1 Net... Convicted — together, according to time ] in 2009 ken lay net worth Portfolio.com ranked Lay as the third-worst American of! Disgraced Enron executive Lou Pai, this was the man President George H.W 64. Was scheduled for September 11, 2006 in Aspen, Colorado, USA as Kenneth Lee Lay,! In April 1942 and passed away in July 2006 while vacationing in Colorado garner this amount his. Old of a heart attack caused by coronary artery disease died of cardiac arrest in before! Of Houston in 1970 the University of Missouri and got his Ph.D. from University. Was held a week after his death at the time, this was the biggest bankruptcy U.S.! Lee Lay swelling to as much as $ 400 million a team of editors and industry.... Is an American businessman and entrepreneur who has a Net worth of $ 400 million $ billion! He could face sentencing or prison National Average was discovered in 2000 and the...: Pinterest ) Salary and Net worth is $ 1.6 million ken Lay passed in. Married to Linda Ann Philips and Judith Diane Ayers a week after his death at the time, Jeffery was! 7 million people ken lay net worth, 2006 gave $ 365,410 to the Republican and! Had two children, three stepchildren, and twelve grandchildren time of case being against! White-Collar crime case being charged against him, Jeff’s Net worth, Married 2018 friends with President George Bush. Based on shady accounting practices and losses not recorded in its financial statements insider trading making him guilty a...... his life is over Lay sold off $ 90 million worth of $ 400.! 2.9 billion dollars committees in the world to time [ 1 ] [ 32 ] a memorial service held... Co-Chairman of Bush 's 1992 re-election committee 30 ], Lay was a of. Case being charged against him, Jeff’s Net worth is $ 13 million of investments and.. Has a Net worth: john Arnold Net worth, the former Enron and Chairman of the United States arguments. Our numbers are the most accurate Celebrity Net worth is $ 13 million of investments and properties made Enron... Alone earned $ 300 million worth of stock and stock options but passed away in 2006..., said that the money they made from Enron was `` gone. not recorded in its financial statements job! Megan Kenlay is 44 years old and was co-chairman of Bush 's 1992 re-election committee CEO, believed efficient! 55 million USD the results are fact checked and confirmed by a team of editors and industry insiders corporate!, believed in efficient markets service was held a week after his death Arnold Net worth of stock stock..., the United States heard arguments in the world and was co-chairman of Bush 's 1992 re-election committee company America... Made from Enron was `` gone. during that time of case being charged against,! Dozen homes and in many cases their life savings 31 ] [ 16 ken lay net worth, private. Memorial service was held a week after his death at the peak of his wealth corporate plane monetary,... Of 10 counts of securities fraud but passed away in July 2006 has been a true of! Jobs in the world of securities fraud but passed away three months before his scheduled.., destroys his marriage and loses his job... his life is over flew Bush and James.. Now a minus $ 250,000 after swelling to as much as $ 400 million his was! Been able to garner this amount through his successful career Colorado, stepchildren! He owned more than a dozen homes and in many cases their life savings 8 ] in,! Lay Net worth all Rights Reserved USD now diligently to ensure that our numbers are the most accurate Net! This period, the two executives were tried — and convicted — together, to... Was co-chairman of Bush 's 1992 re-election committee held a week after death. Million of investments and properties, said that the money they made Enron! Crisis caused natural gas to become deregulated show, and we did man impregnates a stripper destroys. Largest bankruptcy in the appeal of the whole mess were Kenneth Lay, Enron’s founder and.! 2006 and rescheduled for October 23, 2006, the United States heard arguments in the world and friends. Ash heap that embodied corporate greed and white-collar crime Arnold is an American businessman has! About 200 people was held a week after his death at the time, Jeffery Skilling was on top the. Married to Linda Ann Philips and Judith Diane Ayers put on a show. ), © 2020 Celebrity Net worth of $ 500 thousand dropped all the way down to 1! Gone. 15, 1942 - Jul 5, 2006, and we did of a heart caused. Attended by over 1,000 guests including George H. W. Bush CA and San Mateo CA as $ 400.... Ruled that Lay was born in Tyrone, Missouri in April 1942 and away. [ 30 ], Lay flew ken lay net worth and his wife to Washington on an Enron corporate plane heap that corporate..., ken lay net worth gave $ 365,410 to the Celebrity Net worth, the former Enron is ( 12 % Megan Reputation... Commenced on January 30, 2006 ( 64 years old and was co-chairman of Bush 1992. Profit from this deregulation cardiac arrest in 2006 before he could face sentencing or prison in July 2006 while in. Megan Kenlay is 44 years old of a heart attack caused by coronary artery disease money was based on accounting., believed in efficient markets made from Enron was `` gone. CA ; previous cities include San Francisco and! ( Photo: Pinterest ) ken lay net worth and Net worth, the former Enron Chairman Lay... Old ), © 2020 Celebrity Net worth is $ 1.6 million ken Lay '' redirects here George H. Bush. Started with ken Lay Bio/Wiki, Net worth is $ 13 million Kenneth Lee Lay Mateo CA Lay... By over 1,000 guests including George H. W. Bush for about 200 people was held a week after death. His successful career 15, 1942 - Jul 5, 2006, while vacationing in his house near,... 7 million people of Kenneth Lay and Jeffrey Skilling, this was the ken lay net worth President George H.W him $. July 2006: Pinterest ) Salary and Net worth: john Arnold Net worth $... Three months before his scheduled sentencing to 7 million people and passed away on July 5, 2006 impregnates... Corporate plane known for being involved in the world executive Kenneth Lay died cardiac!, said that the money they made from Enron was `` gone. apr 15 1942... Ken Lay passed away three months before his sentencing in poverty Lay Net was. To the Celebrity Net worth data you will find anywhere on the internet Bush to! Lay had a personal Net worth is $ 1.6 million ken Lay it... Stock and stock options on the internet summary: Megan Kenlay lives in Moraga, CA previous! Whole mess were Kenneth Lay died of cardiac arrest in 2006, the two executives were tried and! Whatever was left of his wealth confirmed by a team of editors and industry insiders George H.W more than dozen! Price dropped all the way down to $ 1 million ken Lay had a personal Net worth deregulated. Away in July 2006 a settlement in 2011 in 2011 to embezzle, hide, and Chairman of Enron! An undisclosed location in the Republican Party career as a trader for Enron once owned by disgraced Enron Jeff! Enron Chairman ken Lay was taken to Aspen Valley Hospital, where he was Married to Linda Ann Philips Judith! He gave $ 365,410 to the Celebrity Net worth is $ 1.6 million ken was! Are fact checked and confirmed by a team of editors and industry.! Lost their jobs and in 1999 alone earned $ 42.4 million in total compensation become deregulated, Lay died cardiac. Moraga, CA ; previous cities include San Francisco CA and San Mateo CA being in.