Six years for ex-Enron CFO

Six years for ex-Enron CFO

Four years knocked off plea deal

Andrew Fastow, the former finance chief at Enron, has received a six-year
jail sentence for his role in the collapse of the energy giant.

US District Judge Ken Hoyt showed leniency towards Fastow, cutting his
originally plea-bargained 10-year sentence by four years.

It was Fastow’s testimony, which helped the government convict former Enron
bosses Jeff Skilling and Ken Lay

Hoyt said Fastow had given ‘exceptional’ assistance to prosecutors, had
pledged to help victims and had shown remorse.

Fastow made an anguished statement before hearing his sentence, during which
he expressed his shame, pledged to work for redemption and apologized to the
victims of the Enron fraud and to his friends and family.

‘I failed them,’ he said.

He is expected to be out of jail before his 50th birthday.

Related Articles

M&S business rate liabilities based on £570m rateable value

Company News M&S business rate liabilities based on £570m rateable value

6m Emma Smith, Managing Editor
BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

10m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

1y Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

1y Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

1y Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

1y Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

1y Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

1y Emma Smith, Managing Editor