Current Events — HabitableZone

Current Events

Finally, ENRON Execs going down

Fastow's gonna SING...........
That would be nice. But if he could implicate ANYONE in the White House, I'll bet he'll be bought off and PARDONED if he just keeps his mouth shut until 2004......

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Lost in the Bush Administration's desperate bid to keep the nation focused on War at all costs is their degree of involvement with Enron. The direct connections extend to every corner of the Administration. From Thomas White, former Enron Executive now appointed by George W. Bush as secretary of the Army; to Ken lay financing Bush's 2000 presidential run, to Enron Executives being ushered into the White House to plan the nations energy policy.

Former Enron CFO Charged With Fraud
Scandal: Andrew Fastow, 40, surrendered this morning to FBI agents and had a court date later today.
From Associated Press

Wednesday, October 2, 2002

HOUSTON -- The former chief financial officer of Enron Corp. was charged today with securities, wire and mail fraud, money laundering and conspiring to inflate Enron's profits and enrich himself at the company's expense.

Andrew Fastow, 40, surrendered this morning to FBI agents and had a court date later today.

The criminal complaint charges that Fastow and others created a scheme to defraud Enron and its shareholders through transactions with off-the-books partnerships that made the company look more profitable than it was.

With the exception of Michael Kopper, a once-trusted Fastow aide who has pleaded guilty to conspiracy charges, the complaint does not identify the others who allegedly participated in the scheme that led to Enron's bankruptcy.

Fastow, 40, arrived at the FBI's headquarters in Houston in anticipation of an initial court appearance on charges related to partnerships credited with fueling Enron's swift descent into bankruptcy last year.

He was accompanied by his attorney, John Keker. After Fastow turned himself in, Keker quickly left.

Fastow spent about 30 minutes inside the FBI office before two agents led him out in handcuffs.

Fastow is said to have devised the company's complex web of off-the-books partnerships used to hide some $1 billion in debt from shareholders and federal regulators. He is the most prominent company figure targeted so far by the Justice Department.

"Today's complaint demonstrates the effectiveness of a swift, coordinated law enforcement response to even the most sophisticated financial crimes," Deputy Attorney General Larry Thompson told a Washington news conference. "Our strategy is straight-forward. We aim to put the bad guys in prison and take away their money."

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