Andrew Fastow, ex-CFO of Enron Corp., pleaded not guilty Wednesday to more than 78 federal charges against him, including fraud, conspiracy, money laundering and obstruction of justice, that prosecutors allege were responsible for the collapse of the giant energy company last December.

The 40-year-old, who is the highest ex-Enron official to be indicted, made his plea during a five-minute arraignment before U.S. Magistrate Marcia Crone in Houston. He was arraigned with about 10 other accused criminals who were handcuffed.

“Your honor, in answer to each of the charges I am not guilty,” said Fastow when asked how he was pleading. Fastow was not alone; he shared the arraignment hearing with about 10 other accused criminals, all wearing handcuffs and orange jump suits. Fastow, however, remains free on $5 million bond. He entered and left the courtroom on his own. Fastow’s next court appearance is scheduled for Jan. 13, 2003 in a trial to be presided over by U.S. District Judge Kenneth Hoyt. Fastow’s attorney has filed a motion with Hoyt contending that his case is complex. He is asking for a waiver to an immediate speedy trial.

Fastow was indicted in late October by a U.S. grand jury in Houston. Many consider Fastow to be the mastermind of Enron’s now notorious off-balance-sheet transactions, also known as special purpose entities, which were used to conceal the company’s huge debt and to artificially inflate profits. Fastow, who reported to CEO Jeffrey Skilling until August 2001 (when Skilling resigned), is also accused of financially enriching himself, his family, co-workers and friends at Enron’s expense. Skilling has testified before Congress that he had no knowledge of any financial wrongdoing while he was in charge of Enron.

Fastow and several other executives, including former Chairman Ken Lay, pleaded their Fifth Amendment rights when testifying before Congress.

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