Andrew

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.

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.

Andrew S. Fastow, the 40-year-old former CFO of Enron, was indicted Thursday on 78 counts that accuse him of leading the effort to conceal the company’s losses and debts, as well as inflate the former energy merchant’s trading profits. The indictment accuses Fastow of securities fraud and other criminal charges. Federal prosecutors previously had filed a criminal complaint, charging him with fraud, conspiracy and money laundering.

Andrew Fastow, Enron Corp.’s disgraced former CFO, was “likely” to be indicted on fraud and other criminal charges by a Houston federal grand jury on Wednesday, according to Reuters, which cited unnamed sources. The prosecution had 30 days after it charged Fastow to issue an indictment, and the deadline is Thursday.

Former Enron Corp. CFO Andrew Fastow is most likely deciding whether to plea bargain with federal prosecutors or become the fall guy after he was charged with five counts of fraud, money laundering and conspiracy last Wednesday in Houston. The U.S. government, claiming they were obtained illegally, is freezing and plans to require Fastow to forfeit about $37 million of his assets, according to the Department of Justice’s Deputy Attorney General Larry Thompson.

Former Enron Corp. CFO Andrew Fastow was charged with fraud, money laundering and conspiracy Wednesday in Houston in connection with the company’s collapse last year, and the U.S. government plans to freeze and require the forfeiture of about $37 million of his assets, according to the Department of Justice’s Deputy Attorney General Larry Thompson.

Ten of Enron Corp.’s former top executives, including Chairman Kenneth Lay, CEO Jeffrey Skilling and CFO Andrew Fastow, now face lawsuits by creditors after the U.S. Bankruptcy Court overseeing the company’s case gave its permission. The lawsuits would be handled in Texas district court.

Former Enron Corp. CFO Andrew Fastow and some of his subordinates may face criminal indictments by the end of next week, according to several reports. The sealed criminal grand jury indictment apparently includes fraud charges and other allegations, and Fastow is expected to turn himself in to authorities in Houston by Wednesday. Ironically, one of the attention-grabbing off-the-book partnerships created and managed by Fastow that destroyed Enron filed for bankruptcy last week.

With embattled CFO Andrew Fastow and other corporate executives joining him, Chairman Kenneth Lay attempted to answer yet again the growing list of questions that are swirling around Enron Corp.’s third quarter announcement of equity reductions and related-party transactions. However, it seemed in the end that listeners were still hungry for more information on the Houston-based company’s balance sheet, as well as its plans to stop the slide in stock prices.