Ken Lay

(redirected from Lay, Kenneth)

Ken Lay

Chairman of the board and CEO of Enron from 1985 to 2002. During his tenure, Enron committed one of the largest accounting frauds in history. As CEO, Lay presided over a company in which many of its assets were either overpriced or completely fictional; losses were hidden in offshore subsidies; and most profits were fraudulent. He was charged with and convicted of securities fraud and other crimes, but he died before he was sentenced. He lived from 1942 to 2006.