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Andrew Fastow

From Academic Kids

Andrew S. Fastow was the chief financial officer of Enron Corporation until the Securities and Exchange Commission opened an investigation into his conduct in 2001. Fastow was one of the key figures behind the complex web of off-balance sheet "special entity" partnerships used by Enron to conceal its massive losses.

On November 1, 2002, Fastow was indicted by a federal grand jury in Houston, Texas on 78 counts including fraud, money laundering, and conspiracy. On January 14, 2004, he pled guilty to two counts of wire and securities fraud, and agreed to serve a ten-year prison sentence. He also agreed to cooperate with federal authorities in the prosecutions of other former Enron executives.

On May 6, 2004, his wife, Lea Fastow, a former Enron assistant treasurer, pled guilty to a misdemeanor tax charge and was sentenced to one year in a federal prison in Houston, Texas, and an additional year of supervised release. Lea was released to a halfway house on June 6, 2005.

Other Sources

A number of books have been written about Enron and Andy Fastow. Prominent among these is Conspiracy of Fools by Kurt Eichenwald which essentially features Fastow as the book's protagonist.

Also see the book Smartest Guys in the Room which was adapted into a film documentary.

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