On the verge of being sentenced to prison, Enron Exec, Ken Lay has died of a heart attack . More when it comes.

On the verge of being sentenced to prison, Enron Exec, Ken Lay has died of a heart attack...

...With the assistance of euthanasia?

you think?

by Rob Lever 45 minutes ago

WASHINGTON (AFP) - Former Enron chairman Kenneth Lay, convicted of fraud and conspiracy in one of the largest corporate scandals in US history, has died at the age of 64.

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Lay, who faced a long prison term at sentencing scheduled for October, died in a hospital in the western mountain resort town of Aspen, Colorado, early Wednesday after a medical emergency, the local Sheriff's Office said Wednesday.

It would not confirm press reports that Lay, who built a small energy firm into the seventh largest US corporation and then presided over its spectacular meltdown in 2001, suffered a massive heart attack.

A spokeswoman at Aspen Valley Hospital confirmed that Lay was admitted to the hospital early Wednesday but offered no details.

"Ken Lay passed away early this morning in Aspen," said a family statement read out on CNN. "The Lays have a very large family with whom they need to communicate and out of respect for the family we will release no further details at this time."

The Houston Chronicle said Lay suffered a massive coronary, according to Steve Wende, a pastor at First Methodist Church in Houston.

"He and his wife, Linda, were in Colorado for the week, and his death was totally unexpected. Apparently, his heart simply gave out," Wende said in a memo to church staff, the daily reported.

Lay and former Enron CEO Jeffrey Skilling, 52, were convicted in May of setting up an elaborate scheme to deceive investors over Enron's crumbling finances prior to what was then the largest corporate bankruptcy in US history.

Sentencing for Lay and Skilling had been set for October 23 after their conviction May 25 in a trial culminating a four-year investigation.

Evidence presented at the trial showed that between 1989 and October 2001, Lay sold some 300 million dollars in Enron stock even as he urged employees of the company to keep buying the shares.

Although Lay had been known for his smooth demeanor, he became irritated during his testimony in the trial and observers said he failed to persuade jurors of his sincerity.

Lay had maintained his innocence even after the trial, arguing that Enron was a sound company brought down by a cash crunch when the company's credit line dried up.

"I firmly believe that I am innocent of the charges against me, as I have said from day one," Lay said on his personal website after the verdict. "I still firmly believe that to this day. I will continue to work diligently with my legal team to prove this."

Lay's death came as the US Justice Department was preparing to seize the assets of Lay and Skilling following their conviction. The Washington Post reported that the government was seeking over 182 million dollars from the two executives, arguing that their homes and other assets were acquired through the fraud.

A prominent Republican fund raiser, Lay was found guilty of six fraud and conspiracy charges, and federal bank fraud charges in a separate trial. He faced a maximum of 165 years in jail.

Thousands of people lost their jobs and life savings when Enron collapsed with an estimated 40 billion dollars in debt, hidden through a myriad of financial deals kept off the books of the Houston energy-trading giant.

The scandal undermined faith in corporate America and led to a massive stock market sell-off. It also made the name Enron synonymous with greed and malfeasance.

But the Enron affair also triggered a crackdown that has sent a number of executives to prison, and led to tough reforms on corporate governance.

Born April 15, 1942 to a poor Missouri family, Lay worked his way up in the ranks of business and founded Enron in the 1980s from the merger of two pipeline companies.

He remained chief executive except for a brief period in 2001, and then took back the post of CEO until the company's bankruptcy filing later that year.

Lay developed ties with former president

George Bush, played golf with president

Bill Clinton, and contributed generously to

President George W. Bush's 2000 campaign, as well as his earlier campaign for Texas governor in 1993.

I'm from Houston so this is like big news here. Gosh, 64. He was so young. I'm in shock.

Not shedding one tear for that oxygen thief...Just my opinion

He either faked his death or he committed suicide. People like him would rather die than live poor or spend a second in jail.

Not shedding a tear either. Sorry! I feel for his family though.