Financial Accounting Blog

Wednesday, January 14, 2004

MSNBC reports former Enron finance chief Andrew S. Fastow and his wife have agreed to plead guilty for their roles in a massive accounting scandal in 2001.
Andrew Fastow, who was indicted in October 2002, is charged with 98 counts of insider trading, fraud, money laundering, tax violations and others for allegedly running a complicated web of partnerships and financing methods that hid debt, inflated profits and funneled millions of dollars to him, his family, friends and colleagues.

His wife is charged with six counts of conspiracy and filing false tax forms. She is accused of helping her husband make one partnership appear independent of Enron so the company would continue receiving related tax benefits.