Ken Lay’s family will have to live with his death and the stigma of what happened to his Enron employees, but they won’t be further penalized financially.
Lay’s death before his right to an appeal means his conviction is automatically wiped from his record, legal analysts told Forbes online. It also means that the government cannot collect its forfeiture claim of $43.5 million from his widow Linda.
It’s hard to believe, but the case law on this point is crystal clear, says Peter Henning, professor at Wayne State University Law School. “The idea is that you can’t punish a dead person. It’s not fair,” says Henning. “Lay didn’t get a chance to go in front of a court of appeals, which he had an absolute legal right to do.”
It’s still unclear how Lay’s death will affect a similar verdict handed to his co-defendant Jeffrey Skilling.
Also, in case you missed it, conservative candidate Felipe Calderon won the Mexican presidential election by 0.6 percent. His liberal opponent Manuel Lopez Obrador vowed to challenge the results in court. Oy vey.