Andrew Fastow G.W. Amos Lauren Wright. Background Born December 22, 1961 in Washington DC Born December 22, 1961 in Washington DC B.A. in Chinese and.

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Presentation transcript:

Andrew Fastow G.W. Amos Lauren Wright

Background Born December 22, 1961 in Washington DC Born December 22, 1961 in Washington DC B.A. in Chinese and Economics B.A. in Chinese and Economics M.B.A. received in 1986 M.B.A. received in 1986

Early Career Continental Illinois National Bank and Trust Company Continental Illinois National Bank and Trust Company Became a pioneer Became a pioneer Savings and Loan Crisis Savings and Loan Crisis

Enron Hired in 1990 by Jeffery Skilling Hired in 1990 by Jeffery Skilling Became CFO in 1998 Became CFO in 1998 Enron went under investigation in 2001 Enron went under investigation in 2001

“Special Purpose Entities” Off the books Off the books Owned by co-ops by Enron’s employees Owned by co-ops by Enron’s employees Appearance of profit and growth Appearance of profit and growth

Debt Stocks crashed Stocks crashed Curious corporate auditors and stockholders Curious corporate auditors and stockholders Ken Lay removed Fastow as CFO Ken Lay removed Fastow as CFO

Charges & Convictions Charges brought against all Enron employees Charges brought against all Enron employees Fastow’s charges: conspiracy, fraud, insider trading, & money laundering Fastow’s charges: conspiracy, fraud, insider trading, & money laundering Convicted of 2 counts of security fraud and serving a 6 year prison sentence Convicted of 2 counts of security fraud and serving a 6 year prison sentence

Sources TIME Magazine TIME Magazine Forbes Forbes Biography.com Biography.com