Kenneth Lay
07-07-2006, 11:00 AM
Body of Enron's Lay to be cremated
Family will hold private service in Colorado on Sunday.
July 7 2006: 9:53 AM EDT
HOUSTON (Reuters) -- The body of Enron Corp. founder Ken Lay will be cremated and his ashes buried in Aspen, Colo., where he died this week of an apparent heart attack, a newspaper reported Friday.
The Houston Chronicle, quoting a source close to Lay's family, said the cremation and Aspen burial had been Lay's wish because the mountain town, where he once owned several properties, was his favorite place in the world.
Lay will be buried in Aspen, his favorite place in the world.
The Lay family will hold a private service in Aspen on Sunday for the one-time corporate titan who became a convicted felon, followed by another service in Houston on Wednesday, the newspaper said.
Lay, 64, died Wednesday while on vacation in Aspen. Following an autopsy by the local coroner, his death was attributed to a massive heart attack caused by coronary artery disease.
Results of toxicology tests are not expected for about three weeks, officials said.
Lay was convicted of fraud and conspiracy charges in May for his role in the demise of Enron, a power trading giant that collapsed into bankruptcy in 2001 in a huge financial scandal that cost investors and employees billions of dollars.
He was free on $5 million bond while awaiting sentencing on Oct. 23, along with former Enron chief executive and fellow defendant Jeff Skilling.
They were expected to be sentenced to up to 30 years in prison.
Combined, the two men were convicted of 29 criminal charges in a four-month trial that capped the federal government's five-year effort to prosecute Enron executives.
Skilling, who also is free on bond, is still set for the October sentencing date.
Lay and his wife Linda owned four properties in Aspen, but sold them for a total of $24 million as their financial problems mounted after the fall of Enron.
They were staying in a rented vacation home at the time of Lay's death.
Family will hold private service in Colorado on Sunday.
July 7 2006: 9:53 AM EDT
HOUSTON (Reuters) -- The body of Enron Corp. founder Ken Lay will be cremated and his ashes buried in Aspen, Colo., where he died this week of an apparent heart attack, a newspaper reported Friday.
The Houston Chronicle, quoting a source close to Lay's family, said the cremation and Aspen burial had been Lay's wish because the mountain town, where he once owned several properties, was his favorite place in the world.
Lay will be buried in Aspen, his favorite place in the world.
The Lay family will hold a private service in Aspen on Sunday for the one-time corporate titan who became a convicted felon, followed by another service in Houston on Wednesday, the newspaper said.
Lay, 64, died Wednesday while on vacation in Aspen. Following an autopsy by the local coroner, his death was attributed to a massive heart attack caused by coronary artery disease.
Results of toxicology tests are not expected for about three weeks, officials said.
Lay was convicted of fraud and conspiracy charges in May for his role in the demise of Enron, a power trading giant that collapsed into bankruptcy in 2001 in a huge financial scandal that cost investors and employees billions of dollars.
He was free on $5 million bond while awaiting sentencing on Oct. 23, along with former Enron chief executive and fellow defendant Jeff Skilling.
They were expected to be sentenced to up to 30 years in prison.
Combined, the two men were convicted of 29 criminal charges in a four-month trial that capped the federal government's five-year effort to prosecute Enron executives.
Skilling, who also is free on bond, is still set for the October sentencing date.
Lay and his wife Linda owned four properties in Aspen, but sold them for a total of $24 million as their financial problems mounted after the fall of Enron.
They were staying in a rented vacation home at the time of Lay's death.