On July 5, 2006, Kenneth Lay died of a heart attack at his vacation home in Aspen, Colorado, just six weeks after being convicted on all six counts of fraud and conspiracy in the Enron scandal. Lay, 64, was pronounced dead at Aspen Valley Hospital at 3:11 a.m. A preliminary autopsy reported he died …
On May 25, 2006, a federal jury convicted Enron founder Kenneth Lay on all six counts of fraud and conspiracy, and former CEO Jeffrey Skilling on 19 of 28 counts of securities fraud, wire fraud, and conspiracy. The verdicts marked a watershed moment in corporate accountability, holding top …
Vice President Cheney’s Energy Task Force recommendations were implemented as EPA environmental policy through executive orders, bypassing Congressional oversight and public comment periods required by the Administrative Procedure Act. Task force members from ExxonMobil, Chevron, and other oil …
On July 7, 2004, a federal grand jury indicted Enron founder and former CEO Kenneth Lay on 11 counts of securities fraud, wire fraud, and making false statements to banks. The indictment charged that Lay repeatedly lied to investors, employees, and federal regulators about Enron’s …
Enron filed for bankruptcy on December 2, 2001, marking the largest corporate bankruptcy in U.S. history at the time, with $63.4 billion in assets. The collapse revealed extensive corporate fraud orchestrated by CEO Kenneth Lay and President Jeffrey Skilling, who manipulated financial statements and …
On October 22, 2001, the Securities and Exchange Commission announced it was formally investigating Enron’s suspicious dealings with partnerships controlled by CFO Andrew Fastow, characterizing them as “some of the most opaque transactions with insiders ever seen.” Enron’s …
On October 16, 2001, Enron announced a $618 million quarterly loss, marking a pivotal moment in the company’s downfall. The loss was largely attributed to a one-time charge for terminating “certain structured finance arrangements” known as the Raptors, which were partnerships …
The Bush administration releases the National Energy Policy, revealing extensive incorporation of Enron’s recommendations. Analysis shows the task force adopted “all or significant portions” of Enron’s recommendations in seven of eight policy areas, with at least 17 policies …
On April 17, 2001, Enron CEO Kenneth Lay met with Vice President Dick Cheney and his National Energy Policy Development Group (Energy Task Force), presenting a three-page “wish list” of corporate energy policy recommendations. This meeting was one of at least six interactions between …
Vice President Dick Cheney initiated secret meetings of the National Energy Policy Development Group, systematically involving Enron executives like Kenneth Lay while excluding environmental groups. Between late January and April 2001, the task force held at least 40 meetings with energy industry …
Vice President Dick Cheney established the National Energy Policy Development Group conducting secret meetings with oil industry executives while excluding environmental groups. Between late January and April 2001, Cheney’s task force held at least 40 meetings with energy interests versus just …
On her final day as Chair of the Commodity Futures Trading Commission, Wendy Gramm approves a regulatory exemption allowing Enron to trade energy derivatives without CFTC oversight. The exemption, granted on January 14, 1993 (some sources cite January 21, the final day of the George H.W. Bush …