Kenneth Lee Lay (April 15, 1942 – July 5, 2006) was an American businessman and political donor who was the founder, chief executive officer and chairman of Enron.

Lay was indicted by a grand jury[1] and was found guilty of 10 counts of securities fraud at trial.

[3] A preliminary autopsy reported Lay died of a heart attack caused by coronary artery disease.

[a][9] His actions were the catalyst for subsequent and fundamental corporate reform in regard to "standards of leadership, governance, and accountability".

[10] However, during his trial in 2006, Lay claimed that Enron stock made up about 90% of his wealth, and that his net worth at that time was negative $250,000.

[13][14] He served as president of the Zeta Phi chapter of the Beta Theta Pi fraternity at the University of Missouri.

He encouraged John Ashcroft to campaign in the 2000 Republican Party presidential primaries, although this was partially to ensure him as a spoiler candidate to help Bush win the race.

[2] Lay insisted that Enron's collapse was due to a conspiracy waged by short sellers, rogue executives, and the news media.

In a separate bench trial, Judge Lake ruled that Lay was guilty of four additional counts of fraud and making false statements.

The Pitkin County Sheriff's Department confirmed that officers were called to Lay's house in Snowmass, Colorado, near Aspen at 1:41 am Mountain Daylight Time.

[31] On October 17, 2006, the conviction was overturned due to abatement ab initio, a legal doctrine which says the death of a defendant during an appeal results in a vacated judgment.

[clarification needed] The United States Department of Justice issued a statement saying it remained committed to pursuing all available legal remedies for victims of the fraud.