Enron official gets 6-year sentence

Published September 27, 2006

HOUSTON, Sept 26: Andrew Fastow, who helped engineer the financial trickery that sank Enron Corp. and then helped prosecutors convict others involved in the scandal, received a six-year sentence on Tuesday, four years less than the deal he had made.

U.S. District Judge Ken Hoyt said the 44-year-old former Enron chief financial officer had given “exceptional” assistance to prosecutors, had pledged to help victims and had remorse, and his wife, Lea, had gone to prison for a year.

The judge imposed no fine and recommended a minimum security prison for Fastow. He rejected a request from lawyers for victims who are suing to recover losses that Fastow be allowed to surrender Oct. 23 after giving a deposition.

Fastow had agreed to a sentence of 10 years.

“What moves the arm of justice is mercy,” Hoyt told Fastow. “You were drunk on the wine of greed ... (but) you had a double portion, in that your wife shared in that (punishment).”

Fastow, who oversaw Enron’s finances during the giant energy trader’s spectacular rise and fall, pleaded guilty to fraud and conspiracy in 2004 and agreed to assist prosecutors. His testimony helped convict former Chairman Kenneth Lay and former CEO Jeffrey Skilling.—Reuters

Opinion

Editorial

Doctor attacked
09 Jun, 2026

Doctor attacked

AN act of reprehensible violence has shaken the medical community. On Saturday, an employee of the Provincial Civil...
AJK flare-up
09 Jun, 2026

AJK flare-up

MATTERS have worsened in the stand-off between the Azad Kashmir government and the Joint Awami Action Committee,...
Fault lines
09 Jun, 2026

Fault lines

THE April 8 ceasefire that halted hostilities between Israel and Iran has encountered its most serious test yet....
Soft on traders
08 Jun, 2026

Soft on traders

THE Fixed Tax Asaan Scheme for traders with an annual turnover of up to Rs200m has been designed as a ‘pragmatic...
Ceasefire in name
Updated 08 Jun, 2026

Ceasefire in name

Both sides accuse the other of violating the truce that was supposed to halt the conflict in April, yet neither appears willing to abandon negotiations altogether.
Damaged childhoods
08 Jun, 2026

Damaged childhoods

CHILD abuse is so prevalent that the UN ranked Pakistan as the least safe country for children. Even so, more than...