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Judge gives Enron boss 6 years
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| Contributor | RP |
| Last Edited | RP Sep 26, 2006 03:07pm |
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| Category | Legal Ruling |
| News Date | Tuesday, September 26, 2006 08:45:00 PM UTC0:0 |
| Description | Andrew Fastow, Enron's former chief financial officer, was sentenced on Tuesday to six years in prison for engineering the fraud that forced the world's energy trader into bankruptcy and a tightening of controls over corporate America.
US district judge Ken Hoyt said Mr Fastow's cooperation with prosecutors and his clear remorse had warranted for a more lenient sentence than might have been expected.
The 44-year-old had agreed in January 2004 to serve 10 years in prison in a plea agreement with prosecutors that forced him to plead guilty to one charge of conspiracy to commit wire fraud and one charge of conspiracy to commit wire and securities fraud. In addition, he had to testify against his former bosses and pay $23.8m.
Prosecutors subsequently dropped 96 criminal charges that, had he been convicted at trial, could have sent him away for life.
Yet last week Mr Fastow's attorneys asked the court to show leniency, because the 10 years he had agreed to serve were then mandatory for his crimes and the US Supreme Court has since made them optional. |
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