On May 25, Lay was found guilty of 10 counts of fraud and conspiracy related to the collapse of Enron, the energy company he founded that eventually grew into the nation's seventh largest company before it imploded after an accounting scandal.
It was an astounding fall from grace for the Houston businessman who was once nicknamed "Kenny Boy" by President Bush. Lay had raised funds for Bush earlier in his political career.
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A spokeswoman for Aspen Valley Hospital confirmed that Lay arrived at the hospital at 1:41 a.m. MT and was pronounced dead at 3:11 a.m. MT.
CNN affiliate KPRC in Houston said Lay was admitted to the hospital with a massive coronary.
Update: WH press secretary Tony Snow repeated the Bush administration's talking point today regarding Bush's relationship with Mr Lay: he was just 'an acquaintance' of the president. As the Washington Post reported on May 26, 2006, Bush has done everything he can to distance himself from Lay. We'll have to wait and see what he says about his 'acquaintance' now that he has passed away.
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