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...June 23, cable-news channels went gonzo over a raid on a homegrown terror cell in Miami that foiled an alleged plot to blow up Chicago's Sears Tower. Attorney General Alberto Gonzales held a press conference to announce the arrests. Even Vice President Dick Cheney weighed in and called the group a "very real threat." He did so at a political fundraiser...

Author: /time Magazine | Title: Toying With Terror Alerts? | 7/7/2006 | See Source »

...Daniel Petrocelli, attorney for Lay's co-defendant, former CEO Jeffrey Skilling, says his client was saddened and shaken by Lay's death. "Jeff will miss him dearly," said Petrocelli. Skilling has already lost another close friend to the Enron debacle - vice president Cliff Baxter, who committed suicide in 2002. In an interview with the Wall Street Journal last month, Skilling admitted he had considered suicide himself. Petrocelli refused to comment on the status of Lay's case. "It's inappropriate to be thinking or talking about that right now," Petrocelli told TIME. Petrocelli is continuing to work on Skilling...

Author: /time Magazine | Title: Lay's Conviction Is Gone With Him | 7/5/2006 | See Source »

...constitutional right to participate in his criminal appeal. And since he's no longer alive to help his attorneys prepare, the case will be "extinguished" - as if it never happened, explains Houston attorney Joel Androphy, author of the textbook White Collar Crime. "It's as if he was never charged and convicted," says Androphy. "This is the law. There may have been a moral victory for the government, but there's no longer a legal victory...

Author: /time Magazine | Title: Lay's Conviction Is Gone With Him | 7/5/2006 | See Source »

...Department of Justice refused to comment on the status of Lay's case Wednesday, and Lay's attorney, Michael Ramsey, did not return calls from TIME. But the consensus from lawyers is that, despite Lay's conviction, the case will never be resolved. "It's discouraging and unfortunate," says former federal prosecutor Michael Wynne. "It's not as if he got away with it, of course. We have a system in place to punish people. And to redress wrongs and to try to get money back for people who have had it taken away." But a lot of former Enron...

Author: /time Magazine | Title: Lay's Conviction Is Gone With Him | 7/5/2006 | See Source »

...entire tragedy almost takes on Shakespearean dimensions," says David Berg, a Houston attorney who authored The Trial Lawyer: What it Takes to Win. "His fall from power was so great that it just destroyed him. In some ways, you would think that Ken Lay would rather have died than spent a moment in prison." Lay, who was awaiting sentencing in the fall, faced imprisonment for possibly the rest of his life. "On some subconscious level, it's a polite form of suicide. He was not going to let himself be imprisoned...

Author: /time Magazine | Title: Lay's Conviction Is Gone With Him | 7/5/2006 | See Source »

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