BusinessCompany NewsWife of former Enron CFO gets 12 months

Wife of former Enron CFO gets 12 months

Lea Fastow, wife of former Enron finance chief Andrew Fastow, will spend the next 12 months in prison for filing false tax returns as part of a plea bargain agreed with authorities.

Link: Judge sparks controversy in Enron trial

She was hoping for a more lenient sentence after agreeing to co-operate as part of a broad deal which crucially involved the co-operation of her husband.

An earlier plea bargain, which would have reduced her sentence to just five months jailtime, was rejected by a judge at the last minute last month.

Andrew Fastow, Enron CFO when the company spectacularly collapsed in November 2001, has been charged with 78 counts of fraud, money laundering and conspiracy.

The one-year sentence handed down to his wife is the maximum term for filing false tax returns, but she avoided a potential 37 years of prison time if she had faced a jury on six felony counts.

The Fastows have agreed to forfeit almost $30m to Enron victims and Lea Fastow has also convinced her husband to co-operate with prosecutors in exchange for a 10-year prison sentence.

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