Two and a half years after the midnight shreddings by Anderson Consulting, billions of dollars lost (or stolen) and one of the biggest bankruptcies in U.S. history, Kenneth Lay is finally in handcuffs. The former CEO of Enron — and man who should be held culpable — is finally being indicted in what is certain to become the “trial shadowed by the Saddam trial so who cares anyways this story is two years old”. The Associated Press has the story in Ex-Enron CEO Kenneth Lay Surrenders to FBI:
The Securities and Exchange Commission also was expected to bring civil fraud charges against Lay on Thursday, including making false and misleading statements and insider trading, a person familiar with the case said, speaking on condition of anonymity.
Prosecutors have aggressively pursued the one-time celebrity CEO and friend and contributor to President Bush who led Enron’s rise to No. 7 in the Fortune 500 and resigned within weeks of its stunning failure. Lay is the 30th and highest-profile individual charged.
I can’t say that I’m sad this bastard is finally getting his just desserts. Perhaps the proscecutors finally realized the buck does stop with the head honcho of a company, now if only American politics worked the same.