US deputy attorney general, Larry Thompson, said earlier today that the Department of Justice’ strategy was straightforward, ‘to put the bad guys in prison and take away their money.’
Earlier Fastow has given himself up to the FBI following revelations that he was about to be arrested for fraudulent activity preceding the downfall of the energy giant.
It is believed that the 40-year old accountant was allowed to surrender rather than be arrested over claims that he created and managed the complex web of partnerships, which disguised the true state of the company.
It is thought that Fastow’s former right-hand man, Michael Kopper, the first former Enron executive to plead guilty to fraud and money laundering, disclosed the details of the former CFO’s activities during interviews with the FBI.
Kopper is believed to have revealed that Fastow had amassed a personal fortune of $30m.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements