Wednesday, July 07, 2004
Sources: Lay Indicted in Enron's Collapse
HOUSTON - Former Enron Corp. chairman and CEO Kenneth Lay has been indicted on criminal charges related to the energy company's collapse, sources close to the case told The Associated Press on Wednesday.
Lay, the company's founder, was expected to surrender to federal authorities Thursday, the sources said, speaking on condition of anonymity. Two sources said the indictment against Lay, 62, was expected to be unsealed upon or shortly after his surrender to the FBI.
Prosecutors from the Justice Department (news - web sites)'s Enron Task Force presented an indictment to U.S. Magistrate Judge Mary Milloy in Houston on Wednesday. At their request, the judge sealed both the indictment and an arrest warrant.
Kristen Hays, Associated Press