Word: fastow
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Dates: during 2000-2009
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SENTENCED. Andrew Fastow, 44, former chief financial officer of Enron; to six years in jail for his role in inflating profit figures, hiding billions of dollars in debt and enriching himself before the energy giant's 2001 collapse; in Houston. Fastow was set to serve up to 10 years after he had pleaded guilty in 2004, but Judge Kenneth Hoyt attributed the lenient sentence to his family's suffering and his cooperation in the prosecution of ex-CEO Kenneth...
SENTENCED. Andrew Fastow, 44, former chief financial officer of Enron; to six years in jail; for his role in inflating profits, hiding billions of dollars in debt and enriching himself before the energy giant's 2001 collapse; in Houston. Explaining the lenient sentence--Fastow had agreed to serve up to 10 years when he pleaded guilty in 2004--Judge Kenneth Hoyt said Fastow's family had suffered enough, and cited his cooperation in the prosecution of ex-CEO Kenneth Lay. "Prosecution is necessary," Hoyt said, "but persecution...
...some aren't as easy to wrap up as Quattrone's. Several British bankers, known in England as the NatWest Three, were hauled to Texas in July, after loud protests back home and a drawn-out extradition process. They face charges that they worked with ex-Enron CFO Andrew Fastow to siphon millions of dollars from a deal between their former employer, National Westminster Bank, and Enron. And in August, most of the convictions of four former Merrill Lynch executives, who stood accused of helping Enron inflate earnings by charading a loan as the sale of energy-producing barges, were...
...markets," says Buell, now a visiting law professor at the University of Texas, "but nobody wanted to be a witness." Slowly, the task force's prosecutors turned the screws on the bad guys. But it was early 2004 before they had enough "serious momentum" to indict Skilling. CFO Andrew Fastow and 15 others turned state's evidence in plea deals. Lay was indicted in July...
...spring 2001, the technology bubble was bursting, and Enron was slipping along with it. In late June, Watkins went to work directly for [chief financial officer Andrew] Fastow, who charged her with finding some assets to sell off. But everywhere she looked she found the same thing: fuzzy off-the-books arrangements that seemed to be backed by nothing more than now deflated Enron stock. No one she asked could?or cared to?explain what was really going on. Knowing that others had got into trouble after challenging Skilling, who by then was CEO of the entire company, Watkins began...