Lay Surrenders To FBI, Accused In 11-Count Indictment

Click2Houston.com, Jul 08, 2004

Charges Include Conspiracy, Wire, Bank Fraud, Making False Statements To Banks

July 8, 2004
HOUSTON -- Enron Corp. founder and former Chairman and CEO Ken Lay was involved in a wide-ranging scheme to deceive the public, company shareholders, government regulators and others, according to an indictment unsealed Thursday.

The federal indictment, which adds Lay to charges already filed against his hand-picked protégé, former CEO Jeffrey Skilling, and former top accountant Richard Causey, accuses Lay of participating in a conspiracy to manipulate Enron's quarterly financial results, of making public statements about Enron's financial performance that were false and misleading and omitting facts necessary to make financial statements accurate and fair.

The contents of the 53-count indictment were released a few hours after Lay, who says he committed no crimes at the scandal-ridden energy company, was taken away in handcuffs after turning himself in to the FBI Thursday morning to face criminal charges.

Lay, accompanied by a pastor, emerged from an SUV driven by his wife, Linda, and walked into Houston's FBI headquarters at dawn.

"Nice of you all to show up this morning," Lay told a throng of reporters.

The superseding indictment, now totaling 53 counts, accused Lay, Skilling and Causey of enriching themselves through salaries, bonuses, grants of stock and stock options.

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