Lay leaves assets to wife
July 21, 2006
HOUSTON ” Enron founder Kenneth Lay, who died in Colorado earlier this month, left all of his assets to his wife, Linda, according to his will.
The document filed in Harris County Probate Court on Thursday does not specify the assets.
Linda Lay is executor of the will, which Kenneth Lay signed Aug. 8, 2003, the Houston Chronicle reported in its online editions Thursday.
Lay, 64, died July 5 of heart disease while he and his wife were on vacation near Aspen.
Lay and former Enron chief executive Jeffrey Skilling were convicted May 25 of fraud and conspiracy. Prosecutors say they lied to investors and the public about the financial health of Enron before the energy company collapsed in 2001. Lay also was convicted of one count of bank fraud and three counts of lying to banks in a separate, non-jury trial before U.S. Judge Sim Lake stemming from his personal banking.
Lay insisted he committed no crimes and planned to appeal. Skilling, who now faces sentencing alone on Oct. 23, also aims to appeal.
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Since Lay left everything to his wife, she will have sole discretion over how she would pass on any assets. His assets could also be the target of civil lawsuits.