Korean Job Discussion Forums

4 months left · Joined: 07 Feb 2003

I have strong doubt it was a heart attack.

Octavius Hite wrote:

capebretoncanadian · Joined: 20 Feb 2005

Burn in hell a-hole!

Junior · Joined: 18 Nov 2005 Location: the eye

"Deny everything" can be an extraordinarily successful tactic sometimes.

ddeubel · Joined: 20 Jul 2005

Milwaukiedave · Joined: 02 Oct 2004 Location: Goseong

I agree, he got off easy. It's too bad he didn't rot in jail. Still there is the satisfaction when he died he had the label of being a criminal.

It's also a shame his family will enjoy all the money he took. I hope they rot in hell.

ontheway · Posted: Fri Jul 07, 2006 9:06 am Post subject:

Victims can sue the Estate. They can tie it up in court so that it is not distributed to his heirs for years, if ever. Watch and see.

bucheon bum · Joined: 16 Jan 2003

good to hear.

ontheway · Posted: Fri Jul 07, 2006 12:18 pm Post subject:

News reports indicate he had little money left, perhaps $8 million, so it may not be worth pursuing his estate.

ddeubel · Joined: 20 Jul 2005

there are questions about Lay's assets -- investments in Goldman Sachs and overseas accounts.

You may be right, 8 million may be all but it is a hellofa lot more than anything left to the one's ripped off. Plus he has a few apartments/homes all worth many millions, in other people's names.

Also, his wife is guaranteed 900,000 / year because of investments made AFTER he was charged! Insurance annuities, policies. See the source below describing her tearful cry of poverty..............what did they think, God had entitled them to be rich?

Also the article mentions that the said annuities are not liable to private suits in many states...

DD

John Henry · Joined: 24 Sep 2004

R. S. Refugee · Joined: 29 Sep 2004 Location: Shangra La, ROK

I celebrate no one's death.

But, there are many whose lives I don't celebrate either, the Smirking Chimp being near the top of that heap.

I do, however, celebrate the removal of dangerous, violent criminals from the freedom of society to a more restricted environment where they can no longer murder, maim, and destroy... the Smirking Chimp being at the top of the list of mass murderers that I wish could be moved to such an environment. (But I'm not expecting it to ever happen.)

igotthisguitar · Posted: Sat Jul 08, 2006 1:33 am Post subject:

Colin Powell "Taken Ill" at Clinton Dinner

Friday, July 7, 2006; Posted: 7:59 a.m. EDT (11:59 GMT)

Colin Powell left the hospital at 1:45 a.m.

ASPEN, Colorado (AP) -- Former Secretary of State Colin Powell was briefly hospitalized early Friday after he fell ill at a restaurant where he was dining with former President Clinton and others, police said.

Aspen police Sgt. Bill Linn said the four-star general told him it appeared to be a combination of altitude sickness and "something he ate".

"He is conscious and in very good spirits," Linn said shortly before Powell was released from Aspen Valley Hospital at 1:45 a.m. Linn said Powell asked him to speak with reporters.

Powell's Alexandria, Virginia-based secretary, Peggy Cifrino, did not immediately return a phone call left at her office.

A nursing supervisor at the hospital, where former Enron CEO Kenneth Lay was rushed to and pronounced dead early Wednesday, refused to comment.

Powell, 69, was in Colorado for the Aspen Ideas Festival, a conference in its second year that invites some of the world's leading thinkers.

The former chairman of the Joint Chiefs of Staff and chief strategist of the 1991 Persian Gulf War against Iraq served as President Bush's secretary of state from 2001 until January 2005, when he was replaced by Condoleezza Rice.

Copyright 2006 The Associated Press

http://www.cnn.com/2006/US/07/07/colin.powell.ap/index.html

igotthisguitar · Posted: Tue Jul 11, 2006 3:30 am Post subject:

ENRON SCANDAL
Lay's Death Could Set Skilling Free Shocked

Lawyers likely to argue that entire case has effectively been voided
BARRIE MCKENNA

WASHINGTON -- Kenneth Lay's sudden death could prove to be an "unexpected legal bequest" to Jeffrey Skilling, his co-defendant in the landmark Enron Corp. fraud case.

Mr. Skilling's legal team will almost certainly invoke Mr. Lay's demise to try to reverse his own fraud and conspiracy conviction or demand a retrial, legal experts said yesterday.

That's because Mr. Lay's death Wednesday of an "apparent heart attack" effectively voids the entire case against the Enron founder, including the guilty verdict. Mr. Skilling, the former Enron chief executive officer who is appealing his own conviction, could now argue that much of the evidence against him stems from a case that no longer exists, argued lawyer Jacob Frenkel, a former federal prosecutor and white collar crime specialist.

"This is the first time this has happened in such a high profile case," Mr. Frenkel said. "Everybody is scrambling to see what the law says on this."

How it all plays out could set a legal precedent, he added. Rolling Eyes

Federal prosecutors may be stymied in their bid to seize Mr. Lay's assets. A recent appeals court ruling in the U.S. Fifth Circuit, where Mr. Skilling and Mr. Lay were tried, determined that when a defendant dies before he has exhausted all his appeals "everything associated with the case is extinguished, leaving the defendant as if he had never been indicted or convicted."

And that, Mr. Frenkel said, could arguably include any evidence used to convict Mr. Skilling.

Both men were free on bail, awaiting sentencing following their May 25 criminal conviction on fraud and conspiracy for their role in the spectacular 2001 collapse of Enron, a Houston-based energy trader.

And in another bizarre twist, Mr. Lay's death is likely to shield his wife, Linda, and the couple's children from a federal forfeiture of his assets.

The U.S. Justice Department's Enron Taskforce filed a motion last week asking U.S. District Court Judge Sim Lake to force Mr. Lay to pay $43.5-million (U.S.) and Mr. Skilling to pay $139.3-million

http://www.theglobeandmail.com/servlet/story/LAC.20060707.IBENRON07/TPStory/Business

Gideon · Joined: 24 Feb 2004 Location: Seoul

WorldWide:

YOUR A COMPLETE ASS#OLE!!

"This is exactly why we shouldn't trust americans" What the ?? Try not to over generalize there buddy..

What? so all americans shouldn't be trusted?.. your an idiot!

Please tell me your not a teacher.

And no i am not american. Grow up!!

ontheway · Posted: Tue Jul 11, 2006 8:28 am Post subject:

Ken Lay's assets are exempt from criminal forfeiture due to his death, but not from civil forfeiture. However, as others mentioned above, some of his assets were previously placed in safe havens beyond the law. The reamaining assets are quite minor compared to the huge losses of the victims and the legal fees necessary to collect.

The problem is that most of the victims "losses" were actually overinflated stock values based on fraudulently created paper profits representing money that never existed. Some innocent people paid good money to buy inflated shares. Some of them held on, others sold to still more innocent investors. Prices went up and up. These were all based on the illusion. Everyone measures their losses based on the highest prices. This includes the "retirement" account funds lost by the workers. They were counting on the same overvalued stocks for their own rich retirements. The total of these losses far exceeds the money taken by the perpetrators. There could never be any hope of full recovery. The money lost never existed.