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06-19-2004, 07:52 PM
http://reuters.com/newsArticle.jhtml?type=businessNews&storyID=5462367
HOUSTON (Reuters) - U.S. prosecutors are expected to ask a federal grand jury to indict former Enron Corp. (ENRNQ.PK: Quote, Profile, Research) chairman Ken Lay within two weeks on charges related to the company's 2001 collapse, a newspaper reported on Saturday.
The Houston Chronicle, citing unnamed sources, said Lay likely would face fraud charges similar to those filed earlier against former Enron chief executive office Jeffrey Skilling and former Enron chief accounting officer Richard Causey.
Those two have been indicted on multiple charges including insider trading, securities fraud, wire fraud, conspiracy and lying about Enron finances.
Lay, 62, led the now bankrupt energy trading giant for many years and was a major financial contributor and political ally of President Bush and his father, former President George H.W. Bush.
Enron collapsed in a huge financial scandal in 2001 when it was revealed the company, once a Wall Street darling, had used off-the-books partnerships to hide billions of dollars of debt and inflate profits.
HOUSTON (Reuters) - U.S. prosecutors are expected to ask a federal grand jury to indict former Enron Corp. (ENRNQ.PK: Quote, Profile, Research) chairman Ken Lay within two weeks on charges related to the company's 2001 collapse, a newspaper reported on Saturday.
The Houston Chronicle, citing unnamed sources, said Lay likely would face fraud charges similar to those filed earlier against former Enron chief executive office Jeffrey Skilling and former Enron chief accounting officer Richard Causey.
Those two have been indicted on multiple charges including insider trading, securities fraud, wire fraud, conspiracy and lying about Enron finances.
Lay, 62, led the now bankrupt energy trading giant for many years and was a major financial contributor and political ally of President Bush and his father, former President George H.W. Bush.
Enron collapsed in a huge financial scandal in 2001 when it was revealed the company, once a Wall Street darling, had used off-the-books partnerships to hide billions of dollars of debt and inflate profits.