Ken Lay dead

Ken Lay, former Enron CEO, has died, reports said today.

A family spokeswoman told CNN that Lay died early this morning in Aspen. He was 64 and is beleived to have suffered heart failure.

In a statement, spokeswoman Kelly Kimberly said, 'The Lays have a very large family with whom they need to communicate, and out of respect for the family we will release further details at a later time.'

In May, Lay was found guilty of nine counts of fraud and conspiracy related to the collapse of Enron, the company whose collapse has become a byword for corporate scandal.