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Enron's Lay led to court in handcuffs

Last updated on: July 08, 2004 20:25 IST

Former chairman and chief executive officer of Enron, Kenneth Lay, on Thursday surrendered to the Federal Bureau of Investigation in Houston and was immediately taken, with his hands cuffed behind his back, to court to face criminal charges stemming from the 2001 collapse of the energy company he founded.

The Enron Saga: Complete Coverage

As he arrived at the FBI headquarters in Houston, he told a throng of reporters: "Nice of you all to show up this morning."

Lay was accompanied by a pastor. He emerged from a sports utility vehicle driven by his wife, Linda, and walked into Houston's FBI headquarters at dawn.

Enron's collapse in late 2001 cost investors billions of dollars, put thousands of Enron employees out of work and wiped out retirement savings for many. The company, once admired, became a symbol of corporate greed and excess, and its fall was followed by a string of scandals at other firms.

Lay has denied wrongdoing and claims that the accounting fraud in the company was perpetrated by underlings without his knowledge.
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