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Enron Founder Ken Lay Says He’s Innocent

The founder of Enron today maintained he’s innocent of wrongdoing related to the 2001 collapse of the company. Ken Lay spoke to about 800 business and academic leaders at the Houston Forum, criticizing the justice department’s tactics in pursuing him and others. Lay says as well as the money that former CFO Andrew Fastow admitted […]

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The founder of Enron today maintained he’s innocent of wrongdoing related to the 2001 collapse of the company. Ken Lay spoke to about 800 business and academic leaders at the Houston Forum, criticizing the justice department’s tactics in pursuing him and others.

Lay says as well as the money that former CFO Andrew Fastow admitted stealing from Enron, it was possible misconduct by Fastow that provoked a loss of confidence, causing a run on the company’s treasury. Lay faces trial January 17th–alongside former Enron CEO Jeffrey Skilling and former top accountant Richard Causey. All have pleaded innocent. Lay, Skilling and Causey face counts of fraud, conspiracy, insider trading, lying to auditors and others.