Enron founder Kenneth Lay, who was convicted of helping perpetuate one of the most sprawling business frauds in US history, died yesterday in Aspen, Colorado.

Enron Corp. founder Kenneth Lay took the witness stand today in his fraud and conspiracy trial and sternly denied he had broken the law.

The former chairman and chief executive of bankrupt US energy giant Enron has resigned from the company’s board of directors, cutting his last tie beyond stock ownership to the firm he nurtured for 16 years.

Beleaguered energy company Enron has filed for Chapter 11 bankruptcy protection in the US, the firm said.