Word: fastow
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...took Watkins weeks to work up the nerve to write her first letter to Lay. She had been working for chief financial officer Andrew Fastow last summer, looking for assets to sell as Enron ran into financial trouble while transforming itself into a company that traded energy, water, weather derivatives and anything else it could turn into a commodity. Watkins wanted to help, but everywhere she looked she ran into off-the-books arrangements that no one could explain or seemed to want to investigate. She knew that others who had pressed then ceo Jeffrey Skilling about the investments...
...level, rogue Enron trader back on Feb. 5. What concerned the auditors that morning was how to account for losses piling up in an off-the-books partnership between the company and a firm called LJM. The manager of LJM was none other than Enron's chief financial officer, Fastow. Putting aside the Texas-size conflict of interest for Fastow--whose day job involved vouching for Enron's financial health--Andersen knew that Enron's debts to LJM were rising to a level that required public disclosure no matter who was in charge. Such a disclosure would have sent Enron...
Soon questions began to rise about possible conflicts of interest among Enron board members with regards to holding companies set up by Chief Financial Officer Andrew Fastow...