Former Enron CFO Sentenced

By: Associated Press
By: Associated Press

Enron's former chief financial officer was sentenced to six years in prison Tuesday.

Andrew Fastow, one of the key figures in the collapse of the energy trading giant, had agreed to serve a maximum ten-year term when he pleaded guilty in 2004.

His attorneys asked for a lesser sentence Tuesday, citing Fastow's admission of his guilt and his help in the successful prosecution of Enron founder Kenneth Lay and the former chief executive, Jeffrey Skilling.

Fastow was originally indicted on 98 counts, including fraud, insider trading and money laundering. He admitted to running various schemes to hide Enron debt and inflate profits while enriching himself. He also surrendered nearly $30 million dollars in cash and property.

Enron -- once the nation's seventh-largest company -- crumbled into bankruptcy proceedings in December of 2001.

(Copyright 2006 by The Associated Press. All Rights Reserved.)


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