Ken Lay is going broke. That is, his net worth is now less than $650,000, down from as much as $400 million before Enron's downfall in 2001. Think I'm going to shed any tears for a guy who has $649,763 more than me?
The New York Times reports he has spent $20 million of Enron insurance proceeds for his defense, along with $5 million of his own money. He also has $4 million in unpaid legal fees and could see his total legal costs reach $30 million, according to the paper.
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