Enron Corp. founder and former chairman Ken Lay has died of a massive coronary at age 64, according to the Houston Chronicle. Lay helped lead the company’s rise from a gas pipeline company formed by a 1985 merger to an energy and trading conglomerate that reached number seven on the Fortune 500 in 2000 and claimed $101 billion in annual revenues, reports the Houston Chronicle. Lay was convicted on May 25, along with former Enron chief executive officer Jeffrey Skilling, of defrauding investors and employees by repeatedly lying about Enron’s financial strength before the company declared bankruptcy protection in December 2001. Lay was also convicted in a separate trial of bank fraud and making false statements to banks, the Chronicle reports
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