culture, politics, commentary, criticism

Thursday, November 15, 2007
Where's the other $86 million? Maybe the case of Enron's Ken Lay isn't
dead yet after all:
The government may go ahead with its bid to seize assets from Ken Lay's estate, a judge ruled Wednesday, denying a request from the Enron chairman's widow to stop the effort.

U.S. District Judge Ewing Werlein's ruling allows the government to seek nearly $13 million from Lay's estate, including the upscale condominium he and wife Linda Lay shared.

The judge wrote that prosecutors had provided "ample allegations" of criminal activity tied to the cash and property in question to pursue its case. [...]

The government contends Ken Lay gained $99 million from criminal activity, mostly by repaying Enron loans with company stock throughout 2001 when the company was in financial turmoil. Prosecutors say they can trace and recover nearly $13 million of that.

The amount includes $2.5 million Lay used to pay off the condominium's mortgage days after Enron went bankrupt in December 2001; $10 million that was controlled by a partnership named after the couple; and about $22,000 in a bank account.
So where's the rest of the money?

My bet is on annuities that are protected from these kinds of proceedings. Kenny Boy probably bought up a bunch of annuities — millions and millions worth — and then killed himself on the 4th of July in order to protect his family from his own wrongdoing.

A criminal CEO — but what a wonderful father!

Greatest Hits · Alternatives to First Command Financial Planning · First Command, last resort, Part 3 · Part 2 · Part 1 · Stealing $50K from a widow: Wells Real Estate · Leo Wells, REITs and divine wealth · Sex-crazed Red State teenagers · What I hate: a manifesto · Spawn of Darleen Druyun · All-American high school sex party · Why is Ken Lay smiling? · Poppy's Enron birthday party · The Saudi money laundry and the president's uncle · The sentence of Enron's John Forney · The holiness of Neil Bush's marriage · The Silence of Cheney: a poem · South Park Christians · Capitalist against Bush: Warren Buffett · Fastow childen vs. Enron children · Give your prescription money to your old boss · Neil Bush, hard-working matchmaker · Republicans against fetuses and pregnant women · Emboldened Ken Lay · Faith-based jails · Please die for me so I can skip your funeral · A brief illustrated history of the Republican Party · Nancy Victory · Soldiers become accountants · Beware the Merrill Lynch mob · Darleen Druyun's $5.7 billion surprise · First responder funding · Hoovering the country · First Command fifty percent load · Ken Lay and the Atkins diet · Halliburton WMD · Leave no CEO behind · August in Crawford · Elaine Pagels · Profitable slave labor at Halliburton · Tom Hanks + Mujahideen · Sharon & Neilsie Bush · One weekend a month, or eternity · Is the US pumping Iraqi oil to Kuwait? · Cheney's war · Seth Glickenhaus: Capitalist against Bush · Martha's blow job · Mark Belnick: Tyco Catholic nut · Cheney's deferred Halliburton compensation · Jeb sucks sugar cane · Poindexter & LifeLog · American Family Association panic · Riley Bechtel and the crony economy · The Book of Sharon (Bush) · The Art of Enron · Plunder convention · Waiting in Kuwait: Jay Garner · What's an Army private worth? · Barbara Bodine, Queen of Baghdad · Sneaky bastards at Halliburton · Golf course and barbecue military strategy · Enron at large · Recent astroturf · Cracker Chic 2 · No business like war business · Big Brother · Martha Stewart vs. Thomas White · Roger Kimball, disappointed Republican poetry fan · Cheney, Lay, Afghanistan · Terry Lynn Barton, crimes of burning · Feasting at the Cheney trough · Who would Jesus indict? · Return of the Carlyle Group · Duct tape is for little people · GOP and bad medicine · Sears Tower vs Mt Rushmore · Scared Christians · Crooked playing field · John O'Neill: The man who knew · Back to the top

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