Ken Lay is dead

(AP) NEW YORK Convicted Enron CEO Kenneth Lay has died in Aspen, possible of a heart attack, according to a national news network broadcast Wednesday morning.

CNN cited "family sources" on the information at 10:00 a.m.

Lay and former Enron president Jeff Skilling were convicted in May of lying to investors and employees about Enron's health before the company collapsed into bankruptcy protection in December 2001.

The collapse obliterated more than $60 billion in market value, almost $2.1 billion in pension plans and, initially, 5,600 jobs.

Court observers said the two disgraced corporate chiefs face prison sentences ranging from less than a decade to more than 30 years. Both also are likely to face the possibility of millions of dollars in fines.