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By LEON LAZAROFF and LEON LAZAROFF,CHICAGO TRIBUNE | March 8, 2006
Houston -- In emotional and exhaustive testimony, Andrew S. Fastow, Enron Corp.'s former finance chief, told a spellbound courtroom yesterday that Jeffrey K. Skilling, the energy company's one-time chief executive, was well aware he was hiding hundreds of millions of dollars in debt while inflating the value of various company businesses. Fastow said he executed the transactions because he saw it as a chance to help the company meet Wall Street's expectations and to make millions of dollars apart from his salary as chief financial officer.
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BUSINESS
By Lianne Hart and Lianne Hart,LOS ANGELES TIMES | September 27, 2006
HOUSTON -- A federal judge sentenced one-time Enron Corp. Chief Financial Officer Andrew S. Fastow to six years in prison yesterday for his role in running the fraudulent, off-the-books dealings that brought down the company while he made millions. But the judge stopped short of meting out the maximum term, citing Fastow's contrition and his cooperation with the government. In 2004, Fastow agreed to serve as many as 10 years in exchange for testifying against the former top executives of the fallen energy company.
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BUSINESS
By BLOOMBERG NEWS | November 4, 2004
A federal jury convicted a former Enron Corp. executive and four former Merrill Lynch & Co. officials yesterday in the first criminal trial arising from the accounting fraud that led to the energy trader's collapse. The verdicts in the case, in which prosecutors laid out evidence and strategies that may be used in later Enron prosecutions, lent some momentum to the government as it prepares for the trials next year of former Enron chief executives Jeffrey K. Skilling and Kenneth L. Lay. Convicted of one count of conspiracy and two counts of wire fraud were former Merrill investment banking chief Daniel H. Bayly, 57; former Enron finance executive Daniel O. Boyle, 48; former Merrill strategic financial group chief James A. Brown, 52; former Merrill managing director Robert S. Furst, 43; and former Merrill vice president William R. Fuhs, 36. Brown was also convicted of two counts of making false statements, and Boyle was convicted of one count of making a false statement.
BUSINESS
By THOMAS S. MULLIGAN and THOMAS S. MULLIGAN,LOS ANGELES TIMES | April 26, 2006
HOUSTON -- Former Enron Corp. Chairman Kenneth L. Lay testified yesterday that when The Wall Street Journal was preparing a crucial series of articles about his company in September 2001, he let subordinates talk him into stonewalling the newspaper even though it went "against every bone in my body." Lay largely blames the articles, the first of which appeared in mid-October 2001, with precipitating the credit and stock markets' crisis of confidence in Enron that ultimately led to its bankruptcy filing that December.
NEWS
By Marego Athans and Marego Athans,SUN NATIONAL STAFF | February 8, 2002
WASHINGTON - Enron's former chief executive told incredulous congressmen yesterday that he thought the company was in good financial shape when he resigned Aug. 14 and was shocked to watch it unravel into bankruptcy over the next few months. Jeffrey K. Skilling, once proclaimed as a corporate visionary, told a House Energy and Commerce subcommittee that he was unaware of details of the off-the-books partnerships that masked debts of at least $1 billion and inflated profits, leading to the collapse of the giant energy trader, once the nation's seventh-largest corporation.
BUSINESS
By BLOOMBERG NEWS | March 24, 2006
HOUSTON -- Former Enron Corp. Treasurer Ben F. Glisan Jr., under questioning by a defense lawyer, hedged his earlier testimony that one-time chief executive Jeffrey K. Skilling approved a scheme to dodge accounting rules. Glisan, 40, told jurors at Skilling's fraud trial Wednesday that the former CEO endorsed use of off-the-books partnerships to "circumvent the accounting rules." But under cross-examination yesterday by Skilling lawyer Daniel M. Petrocelli, Glisan said he couldn't recall Skilling's exact words.
BUSINESS
By Lianne Hart and Lianne Hart,LOS ANGELES TIMES | September 27, 2006
HOUSTON -- A federal judge sentenced one-time Enron Corp. Chief Financial Officer Andrew S. Fastow to six years in prison yesterday for his role in running the fraudulent, off-the-books dealings that brought down the company while he made millions. But the judge stopped short of meting out the maximum term, citing Fastow's contrition and his cooperation with the government. In 2004, Fastow agreed to serve as many as 10 years in exchange for testifying against the former top executives of the fallen energy company.
BUSINESS
By THOMAS S. MULLIGAN and THOMAS S. MULLIGAN,LOS ANGELES TIMES | March 14, 2006
HOUSTON -- Defense lawyers in the Enron Corp. case completed their cross-examination of star government witness Andrew S. Fastow yesterday, assailing his credibility on multiple fronts but without seeming to score a clean knockout punch. In four days on the witness stand, Fastow, Enron's former chief financial officer, acknowledged repeatedly that he had secretly stolen millions of dollars from Enron, was driven by greed and had lied to private lawyers and federal investigators investigating the energy-trading company's collapse in late 2001.
BUSINESS
By BLOOMBERG NEWS | July 13, 2004
HOUSTON - Lea Fastow, the wife of Enron Corp.'s former chief financial officer, began a one-year prison term today for her role in the accounting fraud that forced the company into bankruptcy in 2001. Fastow, 42, a former Enron assistant treasurer, entered the Federal Criminal Detention Center in downtown Houston at 8:20 a.m. She pleaded guilty in May to a misdemeanor charge of not reporting $47,800 in income on her 2000 personal tax return. The sum was part of $204,444 in undeclared income that she realized between 1997 and 2000 from off-the-books partnerships that her husband used to hide Enron debt.
NEWS
By Marego Athans and Marego Athans,SUN NATIONAL STAFF | February 15, 2002
WASHINGTON - Former Enron Chairman Kenneth L. Lay was "duped" by key executives who set up illegitimate partnerships that inflated profit statements, deceived investors and ultimately brought down the energy giant, a company vice president testified yesterday. Sherron C. Watkins, the Enron vice president and accountant who warned Lay in a now-famous August memo that the company would "implode in a wave of accounting scandals," testified that Jeffrey K. Skilling and Andrew S. Fastow were the main culprits in the accounting schemes that allowed the company to claim inflated profits of more than $1 billion.
BUSINESS
By THOMAS S. MULLIGAN and THOMAS S. MULLIGAN,LOS ANGELES TIMES | April 25, 2006
HOUSTON -- Enron Corp. founder and former Chairman Kenneth L. Lay began his long-awaited testimony yesterday by declaring his innocence and telling a federal jury that the energy company's 2001 bankruptcy filing turned his American dream into an "American nightmare." Lay quickly drew a distinction between responsibility and blame for Enron's collapse. He said he accepted "full responsibility for everything that happened at Enron" but placed much of the blame on Enron's former chief financial officer, Andrew S. Fastow, who looted the company of millions of dollars, pleaded guilty to conspiracy and became the government's star witness.
BUSINESS
By BLOOMBERG NEWS | March 24, 2006
HOUSTON -- Former Enron Corp. Treasurer Ben F. Glisan Jr., under questioning by a defense lawyer, hedged his earlier testimony that one-time chief executive Jeffrey K. Skilling approved a scheme to dodge accounting rules. Glisan, 40, told jurors at Skilling's fraud trial Wednesday that the former CEO endorsed use of off-the-books partnerships to "circumvent the accounting rules." But under cross-examination yesterday by Skilling lawyer Daniel M. Petrocelli, Glisan said he couldn't recall Skilling's exact words.
BUSINESS
By THOMAS S. MULLIGAN and THOMAS S. MULLIGAN,LOS ANGELES TIMES | March 14, 2006
HOUSTON -- Defense lawyers in the Enron Corp. case completed their cross-examination of star government witness Andrew S. Fastow yesterday, assailing his credibility on multiple fronts but without seeming to score a clean knockout punch. In four days on the witness stand, Fastow, Enron's former chief financial officer, acknowledged repeatedly that he had secretly stolen millions of dollars from Enron, was driven by greed and had lied to private lawyers and federal investigators investigating the energy-trading company's collapse in late 2001.
BUSINESS
By LEON LAZAROFF and LEON LAZAROFF,CHICAGO TRIBUNE | March 9, 2006
HOUSTON -- Bent on discrediting Andrew S. Fastow, the government's star witness in the Enron trial, the attorney for former chief executive Jeffrey K. Skilling yesterday called the one-time finance chief a "chronic liar" and a "thief" who agreed to testify to avoid going to jail for life. In a much-anticipated showdown, Daniel M. Petrocelli peppered Fastow with questions about stealing millions of dollars from Enron and questioned his motive for testifying. Fastow, in his second day of testimony, continued his assertions that Skilling and co-defendant Kenneth L. Lay, Enron's founder and former chairman, knew of the company's financial troubles and illegal dealings while asserting publicly that all was well.
NEWS
By LEON LAZAROFF and LEON LAZAROFF,CHICAGO TRIBUNE | March 8, 2006
Houston -- In emotional and exhaustive testimony, Andrew S. Fastow, Enron Corp.'s former finance chief, told a spellbound courtroom yesterday that Jeffrey K. Skilling, the energy company's one-time chief executive, was well aware he was hiding hundreds of millions of dollars in debt while inflating the value of various company businesses. Fastow said he executed the transactions because he saw it as a chance to help the company meet Wall Street's expectations and to make millions of dollars apart from his salary as chief financial officer.
BUSINESS
By LEON LAZAROFF and LEON LAZAROFF,CHICAGO TRIBUNE | March 7, 2006
He was the architect behind a multibillion-dollar fraud. His youthful face concealed a brutish, obsessive desire to occupy a corner office, enter high society and become very rich. Now he is the government's star witness. If there is a smoking gun in the trial of Enron's top two former executives, the energy company's one-time finance chief Andrew S. Fastow may be the one to produce it. The rapid and stunning collapse of Enron in late 2001 has come to represent the latest wave of corporate corruption cases and a perversion of managerial culture.
BUSINESS
By THOMAS S. MULLIGAN and THOMAS S. MULLIGAN,LOS ANGELES TIMES | April 25, 2006
HOUSTON -- Enron Corp. founder and former Chairman Kenneth L. Lay began his long-awaited testimony yesterday by declaring his innocence and telling a federal jury that the energy company's 2001 bankruptcy filing turned his American dream into an "American nightmare." Lay quickly drew a distinction between responsibility and blame for Enron's collapse. He said he accepted "full responsibility for everything that happened at Enron" but placed much of the blame on Enron's former chief financial officer, Andrew S. Fastow, who looted the company of millions of dollars, pleaded guilty to conspiracy and became the government's star witness.
BUSINESS
By LEON LAZAROFF and LEON LAZAROFF,CHICAGO TRIBUNE | March 9, 2006
HOUSTON -- Bent on discrediting Andrew S. Fastow, the government's star witness in the Enron trial, the attorney for former chief executive Jeffrey K. Skilling yesterday called the one-time finance chief a "chronic liar" and a "thief" who agreed to testify to avoid going to jail for life. In a much-anticipated showdown, Daniel M. Petrocelli peppered Fastow with questions about stealing millions of dollars from Enron and questioned his motive for testifying. Fastow, in his second day of testimony, continued his assertions that Skilling and co-defendant Kenneth L. Lay, Enron's founder and former chairman, knew of the company's financial troubles and illegal dealings while asserting publicly that all was well.
BUSINESS
By BLOOMBERG NEWS | November 4, 2004
A federal jury convicted a former Enron Corp. executive and four former Merrill Lynch & Co. officials yesterday in the first criminal trial arising from the accounting fraud that led to the energy trader's collapse. The verdicts in the case, in which prosecutors laid out evidence and strategies that may be used in later Enron prosecutions, lent some momentum to the government as it prepares for the trials next year of former Enron chief executives Jeffrey K. Skilling and Kenneth L. Lay. Convicted of one count of conspiracy and two counts of wire fraud were former Merrill investment banking chief Daniel H. Bayly, 57; former Enron finance executive Daniel O. Boyle, 48; former Merrill strategic financial group chief James A. Brown, 52; former Merrill managing director Robert S. Furst, 43; and former Merrill vice president William R. Fuhs, 36. Brown was also convicted of two counts of making false statements, and Boyle was convicted of one count of making a false statement.
BUSINESS
By BLOOMBERG NEWS | July 13, 2004
HOUSTON - Lea Fastow, the wife of Enron Corp.'s former chief financial officer, began a one-year prison term today for her role in the accounting fraud that forced the company into bankruptcy in 2001. Fastow, 42, a former Enron assistant treasurer, entered the Federal Criminal Detention Center in downtown Houston at 8:20 a.m. She pleaded guilty in May to a misdemeanor charge of not reporting $47,800 in income on her 2000 personal tax return. The sum was part of $204,444 in undeclared income that she realized between 1997 and 2000 from off-the-books partnerships that her husband used to hide Enron debt.
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