Mizzou Says Lay Professorship Will Go if Lay is Convicted
Columbia, Mo. – University of Missouri officials say that if Enron founder Ken Lay is convicted of defrauding investors, the school likely will remove his name from an economics professorship he endowed.
That probably will require return of that his donation of more than $1 million.
Lay recently was indicted on eleven criminal counts, including conspiracy, securities fraud and bank fraud.
The Columbia Daily Tribune obtained copies of correspondence by MU officials written both before and after the indictment was announced against the Missouri alumnus.
In one letter, Chancellor Richard Wallace said Lay is willing to leave his donation with the Columbia school if his name is retained with the endowment.
But in a later e-mail, the newspaper says Wallace told MU President Elson Floyd and the Board of Curators that if Lay is found guilty, his name should be removed from the chair and the money returned.