Word: fastow
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...thought I was being a hero for Enron." ANDREW FASTOW, former Enron CFO testifying against former chief executives Jeffrey Skilling and Kenneth Lay, on why he took part in secretive transactions that inflated the company's earnings?and padded his own bank account...
...Petrocelli asked Fastow if Lay and Skilling stole $120 million, as Fastow had. "They stole in different ways," Fastow answered, arguing that inflating earnings and hiding losses made the stock price go up - benefiting senior management, which owned lots of stock...
...That is stealing," Fastow said. "I stole one way, and I stole that way. All I'm saying is that we stole...
...only crack in Fastow?s composure came during direct examination, when he nearly cried when he talked about misleading his wife and causing her year-long incarceration. But he held the tears in check when Petrocelli pressed him on the same subject, suggesting he had betrayed and sacrificed his wife to save himself life imprisonment. " You love your children, don?t you?" Petrocelli said. "You must be consumed with insatiable greed." Fastow kept repeating that he and his wife made decisions that were best for their family...
...Petrocelli is finished with Fastow, but the defense isn't. His cross-examination will continue Monday morning, when Ken Lay?s defense attorney, Michael Ramsey, picks up where Petrocelli left off. Courtroom observers are impressed with the case the prosecution is building up and warn that keeping Fastow on the stand risks taking the focus away from the defendants. "Fastow?s testimony was dangerous for both sides,? said Houston attorney David Berg, author of The Trial Lawyer: What It Takes to Win. "If the government is smart, it will close down its case as soon...