On May 25, 2006, he was found guilty on all six counts of conspiracy and fraud by a jury of eight women and four men and in a separate bench trial, The judge ruled that he was guilty of four counts of fraud and false statements. The sentencing was scheduled to take place on 11 September 2006, but it was later rescheduled for 23 October 2006. The scheduled sentencing never took place because Lay died of a heart attack while vacationing in Snowmass, Colorado on July 5, 2006.