Ex-Enron Chair Lay to Give Papers to SEC

WASHINGTON -- Former Enron Chairman Kenneth L. Lay agreed Friday to turn over documents to the Securities and Exchange Commission, which is investigating the bankrupt Houston energy company he headed, The Associated Press reported.

Lay had resisted giving up the documents for more than a year, contending that surrendering them would violate his constitutional right against self-incrimination.

Under an agreement reached between the SEC and Lay and approved by U.S. District Judge Royce Lamberth, the SEC can use any leads derived from the documents for any law enforcement purpose, including any future criminal or civil action it may bring against Lay.

The documents include Lay's corporate and personal records. Lay is required to turn over the records early next week.

-- NYSSCPA.org News Staff

Posted on 11/7/03