The Deal
Sunday, November 22, 
6:39 pm

Ken Lay: not guilty

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Ken Lay is NotGuiltyWhile Ken Lay, the late Enron chief, will forever be remembered as the villain who stole the retirement savings of millions of blue-haired grandmas, a federal judge voided his conviction Tuesday. Although the founder of the failed energy trading firm had been convicted by a Texas jury of conspiracy and fraud for his role in the 2001 bankruptcy of the company, he died six weeks later meaning he missed his chance to appeal the ruling. Because of a legal precedent, the conviction had to be set aside, which formally occured Tuesday. Think of it as the law's equivalent of the NFL's esoteric "tuck rule" that saved Tom Brady from a fumble in the 2001 AFC championship game and therefore not becoming a villain like Red Sox first baseman Bill Buckner, who allowed a ball to roll between his legs giving the Mets a chance to win the game and ultimately the 1986 World Series. —Matthew Wurtzel

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