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Politics : Stockman Scott's Political Debate Porch

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To: Jim Willie CB who wrote (8612)	10/30/2002 11:24:34 PM
From: stockman_scott	Read Replies (2) of 89467

Fastow may be indicted Wednesday Former Enron executive faces fraud charges, sources say msnbc.com WASHINGTON, Oct. 30 — Former Enron executive Andrew Fastow is likely to be indicted by a federal grand jury in Houston Wednesday on fraud and other criminal charges involving the collapsed energy trader, sources familiar with the case said. FASTOW, THE FORMER CHIEF financial officer who is alleged to have masterminded secret partnerships at Enron Corp. , previously had been charged in a criminal complaint with money laundering and conspiring to divert millions of dollars for his own profit. The sources said the indictment would mirror the initial charges brought against Fastow on Oct. 2 that also included securities, wire and mail fraud. Fastow is the highest-ranking official to be charged in the U.S. Justice Department’s continuing investigation of Enron’s spectacular collapse into bankruptcy late last year. Fastow protege Michael Kopper pleaded guilty on Aug. 21 and implicated his former boss in a series of kickback and fraud schemes. He is cooperating with prosecutors. Prosecutors allege Fastow designed transactions that helped Enron massage its earnings by removing money-losing assets from its balance sheet. After bringing the criminal complaint, prosecutors had 30 days to obtain a grand jury indictment, the next step in the legal process. The 30-day deadline ends on Thursday, the sources said. Fastow, 40, appeared briefly in court on Oct. 2 and is free on a $5 million bond agreement. © 2002 Reuters Limited. All rights reserved. .

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