Andrew Fastow, the 42-year-old financial whiz kid who helped propel Enron Corp. to the top of the energy merchant industry only to see all of his intricate financial schemes sink the company into bankruptcy, worked out one of the most intricate deals of his career last week, after pleading guilty Wednesday to conspiracy to commit wire fraud and conspiracy to commit securities fraud. He faces a 10-year prison sentence, forfeiture of $23.8 million in cash and assets, and he is permanently barred from serving as an officer or director of a public company.
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Fastow Pleads Guilty; Probable 10-Year Sentence, $23.8M Fine
Andrew Fastow, the 42-year-old financial whiz kid who helped propel Enron Corp. to the top of the energy merchant industry only to see all of his intricate financial schemes sink the company into bankruptcy, pleaded guilty Wednesday to conspiracy to commit wire fraud and conspiracy to commit securities fraud. He faces a 10-year prison sentence, forfeiture of $23.8 million in cash and assets, and he is permanently barred from serving as an officer or director of a public company.
September 27, 2006
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