BusinessCompany NewsFastow to take the stand at Enron trial

Fastow to take the stand at Enron trial

Former CFO to be star witness

Andrew Fastow, the disgraced former chief financial officer of Enron, will
take the stand this week in the trial of former chief executives Ken Lay and
Jeff Skilling.

Fastow, already jailed for his part in devising the accounting scheme which
contributed to the collapse of energy company, is expected to take the stand in
Houston, either today or tomorrow.

His testimony will come after weeks of testimony given by other former
executives, who claimed Lay and Skilling both knew of and often played a hand in
covering up the true financial state of Enron’s crumbling finances.

Lay, who was also Enron’s chairman, is charged with seven counts of
conspiracy and fraud, while Skilling faces 31 counts of conspiracy, fraud and
insider trading.

In 2004 Fastow pleaded guilty in January 2004 to two counts of conspiracy to
commit wire and securities fraud, agreed to forfeit nearly $24m and will spend
10 years in prison

Lay and Skilling deny any wrongdoing.

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