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Andrew Fastow

Andrew Fastow. G.W. Amos Lauren Wright. Background. Born December 22, 1961 in Washington DC B.A. in Chinese and Economics M.B.A. received in 1986. Early Career. Continental Illinois National Bank and Trust Company Became a pioneer Savings and Loan Crisis. Enron.

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Andrew Fastow

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  1. Andrew Fastow G.W. Amos Lauren Wright

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

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

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

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

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

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

  8. Sources • TIME Magazine • Forbes • Biography.com

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