Autobiography of Andrew Carnegie - Carnegie, Andrew, 1835-1919
Andrew Fastow
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Transcript of Andrew Fastow
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Andrew Andrew FastowFastow
G.W. AmosG.W. AmosLauren WrightLauren Wright
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BackgroundBackground
Born December 22, 1961 in Washington DCBorn December 22, 1961 in Washington DC
B.A. in Chinese and EconomicsB.A. in Chinese and Economics
M.B.A. received in 1986M.B.A. received in 1986
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Early CareerEarly Career
Continental Illinois National Bank and Trust Continental Illinois National Bank and Trust Company Company
Became a pioneerBecame a pioneer
Savings and Loan Crisis Savings and Loan Crisis
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EnronEnron
Hired in 1990 by Jeffery SkillingHired in 1990 by Jeffery Skilling
Became CFO in 1998Became CFO in 1998
Enron went under investigation in 2001Enron went under investigation in 2001
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““Special Purpose Special Purpose Entities”Entities”
Off the booksOff the books
Owned by co-ops by Enron’s employeesOwned by co-ops by Enron’s employees
Appearance of profit and growthAppearance of profit and growth
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DebtDebt
Stocks crashedStocks crashed
Curious corporate auditors and stockholdersCurious corporate auditors and stockholders
Ken Lay removed Fastow as CFOKen Lay removed Fastow as CFO
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Charges & ConvictionsCharges & Convictions
Charges brought against all Enron employeesCharges brought against all Enron employees
Fastow’s charges: conspiracy, fraud, insider trading, Fastow’s charges: conspiracy, fraud, insider trading, & money laundering& money laundering
Convicted of 2 counts of security fraud and serving Convicted of 2 counts of security fraud and serving a 6 year prison sentence a 6 year prison sentence
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SourcesSources
TIME MagazineTIME Magazine
ForbesForbes
Biography.comBiography.com