Federal prosecutors will not challenge a judge’s ruling that vacates the conviction of Enron founder Ken Lay, who died in July after being found guilty for his role in the massive corporate accounting scandal.
Last month, Judge Simeon Lake ruled that Lay’s death vacated his conviction on fraud and conspiracy charges because he could not challenge the conviction.
Lay and former Enron chief executive Jeffrey Skilling were convicted of masterminding the earnings manipulation that led to the collapse of the energy trading giant — once the seventh largest company in the U.S.— and wiped out nearly $1 billion in retirement funds.
Skilling will begin serving a 24-year prison sentence Dec. 12.
