Kenneth Lay, the former chairman as well as a founder of US energy giant Enron died of a heart attack at his home in Aspen, Colorado on Wednesday. Lay was 64.

Lay was convicted of fraud and conspiracy charges by a federal jury in Houston on May 25 for his role in the high-profile collapse of Enron.

He was due to be sentenced on October 23. His attorney's were preparing an appeal to the conviction.