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Ex-Enron CFO Leaves Prison
Andrew Fastow, the former Enron Corp chief financial officer considered the mastermind behind the energy company's fraud, has been moved to a halfway house from a Louisiana prison. Fastow is now in a Houston community corrections facility and is scheduled to be released in mid December of this year.
Fastow, 49, began serving a six-year prison sentence in September 2006 after pleading guilty to two conspiracy charges for his role in helping Enron hide losses and debt and mislead investors.
Fastow pleaded guilty in January 2004 and agreed to cooperate with the authorities in exchange for a 10-year prison sentence. The term was reduced after he testified against former Enron Chief Executives Kenneth Lay and Jeffrey Skilling.
Once ranked seventh on the Fortune 500 list of large U.S. companies, Enron went bankrupt on December 2, 2001. Its demise led to reforms including the federal Sarbanes-Oxley Act of 2002.
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