Former Enron Chairman Takes Responsibility For Collapse

New York, June 27 | Updated: Jun 28 2004, 05:38am hrs
Breaking his silence about Enrons downfall, former chairman Kenneth Lay has said he takes responsibility for the companys demise but blamed any criminal acts on the firms chief financial officer.

I take full responsibility for what happened at Enron, Mr Lay said in his first interview since the company declared bankruptcy in 2001. But saying that, I know in my mind that I did nothing criminal.

Mr Lay also said he fears his ties with President George W Bush will prove to be a liability as prosecutors reportedly weigh criminal charges against the former chairman.

If anything, being friends with the Bush family, including the President, has made my situation more difficult, Mr Lay told New York Times in an interview.

PTI