Former Enron chairman surrenders to FBI

Former chairman and CEO of EnronCorp. Kenneth Lay turned himself in to the FBI Thursday morning to face criminal charges, local reports said on Thursday.

Lay, who has repeatedly said he committed no crimes but was indicted by the US government on Wednesday, was taken away in handcuffs.

He was indicted after a US federal investigation ended in charges being brought against some of Lay's most highly-trusted lieutenants including his hand-picked protege former CEO Jeffrey Skilling.

Enron's collapse in 2001 cost investors billions of US dollars and put thousands of Enron employees out of work. The collapse also wiped out retirement savings for many people.

The company became a symbol of corporate greed and excess in the United States.

The US Securities and Exchange Commission is also expected to bring civil fraud charges against Lay including making false and misleading statements and insider trading.