Andy+Fastow

Andrew Stuart Fastow.

Andy Fastow was born on Decenber 22, 1961 in Washington D.C. and raised in New Providence, New Jersey. He graduated from Tufts University in 1983 and then earned his MBA from Northwestern University. Later, he worked for Continental Illinois Bank and Trust Bank in Chicago. He joined Enron in 1990 and Was the CFO in 2001 when the com[any was investiagted.

He was indicted on October 31, 2002 for 78 accounts including fraud, money laundering, and conspiracy. He pleaded guilty but bargained to be an informant on others involved in the crime, for a reduced sentence for himself. He is currently serving a six year sentence. Fastow it seems, did most of the lying. He claimed that Enron's sales were $150 billion and had assets of over $62 billion. Fastow defrauded Enron and it's shareholders by useing special purpose entities. This made the business seem much more successful to Wall Street investors and attractd many more investors. Doing this made the business look really good and enriched himself and Michael Kopper. As a result, Enron was shut down, many people lost jobs, millions of dollars were lost in investments and a few of the business's leaders served time in jail.

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