Word: fastow
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Dates: during 2002-2002
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...many Americans, 2002 will go down in history as the year corporations failed them. Story after incredible story of greed and wrongdoing has created an array of new bogeymen: Tyco's Dennis Kozlowski (31 felony counts), Enron's Andrew Fastow (indicted for wire fraud, money laundering and conspiracy), ImClone's Sam Waksal (insider trading). Politicians have huffed and chuffed about how to fix the system, but legislation proposed to date is likely to lack teeth. The Bush Administration responded late to the public's sense of outrage, then seemed to lose focus. In the end, the only man who appeared...
What the public would perhaps most like to see is Enron's top executives do some jail time. So far, only one of them, former chief financial officer Andrew Fastow, is facing criminal charges, for conspiracy, wire fraud and money laundering (he denies wrongdoing). Ex-chairman Ken Lay is expected to be charged with insider trading before long. But lengthy prison sentences for white-collar crimes are rare...
...time Watkins arrived, Enron was fast shedding its image as a staid natural-gas-pipeline company. Trading chief Jeffrey Skilling and his financial whiz, Andrew Fastow, wanted to build a nimble, "asset-light" firm that could exploit deregulating markets for energy, water, weather derivatives, broadband capacity and anything else that could be turned into a commodity. The strategy spawned explosive growth. By 2000, Enron was the seventh largest company in America. The '90s were fat times for Enron, and the corporate culture oozed in excess. The company rented ski condos in Beaver Creek, Colo., and stocked each with a personal...
...only possible but is seemingly essential. And, since Chinese corporate dealings are often murky, investors in the country's few listed companies have come to expect that behind every great Chinese company is a great crime?or at least accounting shenanigans that would make former Enron CFO Andy Fastow blush...
...CHARGED. ANDREW FASTOW, 40, former Enron chief financial officer, with conspiring to inflate profits and enrich himself at the company's expense; after surrendering to police in Houston. Fastow, considered the mastermind behind the financial schemes that brought about Enron's collapse, was released after his family posted bail of $5 million...