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Non-Tech : The ENRON Scandal
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To: Mephisto who started this subject7/31/2002 4:27:24 PM
From: opalapril  Read Replies (2) of 5185
 
Prosecutors Prepare Case against Enron Chief

hsweb01.screamingmedia.com

Sunday Business, London - July 28, 2002
Benjamin Wootliff

Jul. 28--US federal prosecutors investigating Enron's collapse are preparing criminal charges against the company's former chief financial officer (CF0), Andrew Fastow.

According to a weekend report by Bloomberg, Fastow would be the first
Enron employee to be charged following the company's collapse last
December. The former CFO made $30 million from partnerships he
managed for Enron which were used to hide debt from shareholders.

The criminal case brought against three former employees of NatWest
Bank lays the groundwork for the charges against Fastow. They are
accused of skimming $7.3 million from a partnership managed by Fastow.
The three NatWest bankers -- Gary Mulgrew, Giles Darby and Dabid
Bermingham -- secretly invested in the partnership managed by Fastow
and siphoned off "the lion's share" of the profits from their employer,
according to court papers.

Bloomberg says US prosecutors are also planning to seek indictments of
other former Enron executives. Some 10 prosecutors are working on
Enron in Washington, Houston and San Francisco, along with 30 FBI
agents, making it one of the largest white-collar crime investigations ever
undertaken by the Justice Department.

Fastow has had discussions with prosecutors, Bloomberg reports, but
charges may not be filed for several weeks. In the spring Fastow and
former Enron chief executive Kenneth Lay refused to testify before the US
Congress on the advice of their lawyers.
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