Sunday, January 23, 2005

Okay, so, where do we stand with Ken Lay?

A bit of background from Wikipedia:

Lay sold large amounts of his Enron stock in September and October of 2001 as its price fell, while encouraging employees to buy more stock, telling them the company would rebound.

Lay liquidated more than $300 million in Enron stock from 1989 to 2001, mostly in stock options.

On July 7, 2004, Kenneth Lay was indicted by a grand jury in Houston, Texas for his role in Enron's collapse. Lay was charged, in a 65-page indictment, with 11 counts of securities fraud, wire fraud, and making false and misleading statements. If convicted on all counts, Lay faces 175 years in prison.

Nearly three years passed between Lay's insider trading (10/01) and his indictment (07/04), and now six months have passed since the indictment. He's even dropped off the radar at CNN.

Time slows as velocity increases, so maybe he's been spending a lot of time in his private jet. Or Air Force One.

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