The Enron Scandal Escalates...
Well, with all the coorperate scandals these days, the Enron scandal set the whole trash truck in motion. Here's the story: Yahoo! News
David Fastow, once a financial sweetheart is now under serious federal charges of fraud, money laundering, conspiracy.... and the list goes on and on and on:
Quote:
The financial engineer behind the complex deals that helped hide Enron Corp.'s massive debt was charged Wednesday with fraud, money laundering and conspiring to inflate the company's profits and enrich himself at the company's expense.
Now with these kinds of charges against him, what will he do to make his sentence lighter? What kind of deal will prosecuters make if he does testifiy against his former collegues at the once primo coorperate stock choice firm? Well, according to his lawyers:
Quote:
...The action against Fastow raises the question of what he might say about former Enron chief executive Jeffrey Skilling and former chairman Kenneth Lay if Fastow began cooperating with the government.
Fastow's attorney, John Keker, said outside the courthose: "Now that he is charged, Andy Fastow welcomes the opportunity to prove the truth about Enron."
does this mean prosecuters will have to give Fastow a sweet deal for ratting out the others in the upper echilons of Enron? Or is he solely to blame? Or is according to his lawyer
Quote:
Fastow's attorney said his client was just doing his job.
That will be for a jury to decide.
However, before this thing does go to trial, I am really wondering... will this trial set the stage for the other scandals such as Worldcom, Martha Stewart or Adelphia? This is going to be an exciting case, indeed :)
