woensdag 9 december 2009

Fastow’s remorse

In January 2004, the till then frozen Enron investigation, knew a tremendous breakthrough when Andrew Fastow, former chief financial officer, decided to plead guilty and help the case a huge step forward in exchange for a softened sentence. In September 2006 Mr. Fastow had his 10-year prison term reduced to 6 by a federal judge, Ken Hoyt. This exceptional decision took place because the CFO had given help to recover the colossal debts of the energy trading company and had revealed valuable information to secure the convictions of his previous bosses, Kenneth Lay and Jeffrey Skilling.

Bart De Clercq

Sources:
New York Times
Guardian 1
Guardian 2

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