Lay was indicted by a grand jury in Houston , Texas , for his role in Enron 's collapse and was charged with 11 counts of securities fraud , wire fraud , and making false and misleading statements . On July 7 , 2004 , Lay was indicted by a grand jury in Houston , Texas , for his role in Enron 's collapse . Lay was charged , in a 65-page indictment , with 11 counts of securities fraud , wire fraud , and making false and misleading statements .