Business


Government seeking $183 million from Lay, Skilling

HOUSTON — Federal prosecutors want Enron Corp. founder Kenneth Lay and former Chief Executive Jeffrey Skilling to fork over nearly $183 million in light of their convictions for perpetuating one of the biggest corporate frauds in U.S. history.

In a court filing Friday, prosecutors asked U.S. District Judge Sim Lake to order the newly convicted felons to turn over that amount “in proceeds of the fraud conspiracy,” which includes bonuses, Skilling’s gains from stock sales, and Lay’s use of loans from Enron to pay down his personal debt, once at $100 million.

Specifically, the government wants $139.3 million from Skilling and $43.5 million from Lay.

The government had already intended to seize about $57 million in Skilling’s cash and property that have been frozen since February 2004.


 

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