Mr. Lay and several of his lawyers held a press conference at the Doubletree Hotel. They reacted to the announcement, made earlier that day, that Mr. Lay would be indicted on 11 counts of fraud, conspiracy, and related offenses. The former Enron chairman and chief executive officer apologized for his inability to save the company from bankruptcy, but strongly denied any criminal wrongdoing. Following prepared remarks, Mr. Lay and his lawyers responded to questions from reporters.