PracticeAccounting FirmsFive months jail for wife of ex-Enron CFO

Five months jail for wife of ex-Enron CFO

A US judge has agreed a plea bargain from the wife of the former chief financial officer at Enron.

Link: First former Enron exec goes to jail

Lea Fastow will spend five months in jail under the arrangement. And it should help pave the way for prosecutors to get husband Andrew to plead guilty as well.

That, in turn, will leave the door open for the courts to go after former chairman Ken Lay and ex-CEO, Jeffrey Skilling.

Fastow faces 96 criminal charges as well as a civil court case. If he co-operates with prosecutors he is likely to become the most senior Enron official to go to jail – so far.

His lawyers have reportedly been negotiating with prosecutors for Fastow to accept a 10-year jail term and pay a $20m (£11m) fine to settle the civil case.

Enron collapsed in December 2001 with debts of around $67bn.

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