Convicted Enron Founder Ken Lay Dies CBS News Interactive: Enron's Troubles (CBS) NEW YORK Convicted Enron CEO Kenneth Lay has died in Aspen, Colo., possibly of a heart attack, according to media reports broadcast Wednesday morning. Lay was convicted of federal charges in one of the biggest corporate scandals in U.S. history.
Several media outlets cited "family sources" on the information at 10:00 a.m. Lay was 64.
Lay and former Enron president Jeff Skilling were convicted in May of lying to investors and employees about Enron's health before the company collapsed into bankruptcy protection in December 2001.
The collapse obliterated more than $60 billion in market value, almost $2.1 billion in pension plans and, initially, 5,600 jobs.
Court observers said the two disgraced corporate chiefs faced prison sentences ranging from less than a decade to more than 30 years. Both were also are likely to face the possibility of millions of dollars in fines.
