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wonderwench
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I have had several long debates in recent months with a few people who claim that Bush is protecting Ken Lay from judifical proceedings in the Enron Scandal.
My argument is that the Enron investigation is similar to those involving organized crime. Prosecutors have to work their way up the org chart in order to get a big enough fish to slip on the boss.
Fastow just may be the one.
Authorities were preparing a criminal complaint against Enron Corp.'s former chief accountant, while former finance chief Andrew Fastow was negotiating a plea deal that would send him to prison, sources close to the case told The Associated Press on Wednesday.
Richard A. Causey, the former chief accounting officer at the fallen energy giant, was expected to surrender to federal authorities Thursday, sources with knowledge of the matter said, speaking on condition of anonymity. The exact nature of the complaint was not immediately clear.
Causey and another executive were assigned to review all Enron transactions with a partnership called LJM, devised by Fastow.
If prosecutors, defense attorneys and the judges presiding over the cases agree on the proposed plea deal, Fastow could appear in court to change his innocent plea to guilty as early as Thursday, sources close to the case told The AP on condition of anonymity.
Fastow would be the highest ranking executive to plead guilty in the criminal investigation of Enron's 2001 collapse.
The Houston Chronicle, citing sources it did not identify, reported Wednesday that federal prosecutors are offering Fastow a 10-year sentence. A plea deal that called for a five-month sentence for his wife, Lea, was rejected by U.S. District Judge David Hittner Wednesday afternoon. Hittner said the deal was too binding and he wanted more leeway on her sentence.
Attorneys for the Fastows did not return calls seeking comment. The family's spokesman, Gordon Andrew, declined comment.
Fastow, 42, is charged with 98 counts of fraud, money laundering, insider trading and other charges for allegedly masterminding a web of schemes that hid Enron's debt, inflated profits and allowed him to skim millions of dollars for himself, his family and selected friends and colleagues. He is free on $5 million bond pending trial scheduled for April.
Negotiated pleas often involve agreements to testify against others, and federal prosecutors are under pressure to develop cases against Enron's former top executives, Kenneth Lay and Jeffrey Skilling. However, there was no immediate indication whether any such arrangement was part of a deal with Fastow.
When Fastow was indicted in October 2002, his lawyers said Skilling and Lay approved his work.
Neither Skilling, who abruptly quit as chief executive nearly four months before Enron filed for bankruptcy in the fall of 2001, nor Lay, the company's founder who resigned in January 2002, have been charged with any crimes. Both maintain their innocence in the implosion that that resulted in thousands of layoffs and dozens of lawsuits.
Lea Fastow, 42, was formerly assistant treasurer at Houston-based Enron. She is set to go to trial Feb. 10 on six counts of conspiracy and filing false tax forms.
In fact, prospective jurors were scheduled to report to the courthouse Thursday to answer a questionnaire to see if they are fit to serve as jurors in her case.
Causey, 43, was fired Feb. 14, 2002, after a board of directors report noted his failure to properly monitor the LJM partnership, which became a focal point for investigators looking into alleged misdeeds by Fastow.
Causey's attorney, Reid Weingarten, did not immediately return a call.
http://customwire.ap.org/dynamic/stories/E/ENRON_FASTOW?SITE=DCTMS&SECTION=HOME&TEMPLATE=DEFAULT
My argument is that the Enron investigation is similar to those involving organized crime. Prosecutors have to work their way up the org chart in order to get a big enough fish to slip on the boss.
Fastow just may be the one.
Authorities were preparing a criminal complaint against Enron Corp.'s former chief accountant, while former finance chief Andrew Fastow was negotiating a plea deal that would send him to prison, sources close to the case told The Associated Press on Wednesday.
Richard A. Causey, the former chief accounting officer at the fallen energy giant, was expected to surrender to federal authorities Thursday, sources with knowledge of the matter said, speaking on condition of anonymity. The exact nature of the complaint was not immediately clear.
Causey and another executive were assigned to review all Enron transactions with a partnership called LJM, devised by Fastow.
If prosecutors, defense attorneys and the judges presiding over the cases agree on the proposed plea deal, Fastow could appear in court to change his innocent plea to guilty as early as Thursday, sources close to the case told The AP on condition of anonymity.
Fastow would be the highest ranking executive to plead guilty in the criminal investigation of Enron's 2001 collapse.
The Houston Chronicle, citing sources it did not identify, reported Wednesday that federal prosecutors are offering Fastow a 10-year sentence. A plea deal that called for a five-month sentence for his wife, Lea, was rejected by U.S. District Judge David Hittner Wednesday afternoon. Hittner said the deal was too binding and he wanted more leeway on her sentence.
Attorneys for the Fastows did not return calls seeking comment. The family's spokesman, Gordon Andrew, declined comment.
Fastow, 42, is charged with 98 counts of fraud, money laundering, insider trading and other charges for allegedly masterminding a web of schemes that hid Enron's debt, inflated profits and allowed him to skim millions of dollars for himself, his family and selected friends and colleagues. He is free on $5 million bond pending trial scheduled for April.
Negotiated pleas often involve agreements to testify against others, and federal prosecutors are under pressure to develop cases against Enron's former top executives, Kenneth Lay and Jeffrey Skilling. However, there was no immediate indication whether any such arrangement was part of a deal with Fastow.
When Fastow was indicted in October 2002, his lawyers said Skilling and Lay approved his work.
Neither Skilling, who abruptly quit as chief executive nearly four months before Enron filed for bankruptcy in the fall of 2001, nor Lay, the company's founder who resigned in January 2002, have been charged with any crimes. Both maintain their innocence in the implosion that that resulted in thousands of layoffs and dozens of lawsuits.
Lea Fastow, 42, was formerly assistant treasurer at Houston-based Enron. She is set to go to trial Feb. 10 on six counts of conspiracy and filing false tax forms.
In fact, prospective jurors were scheduled to report to the courthouse Thursday to answer a questionnaire to see if they are fit to serve as jurors in her case.
Causey, 43, was fired Feb. 14, 2002, after a board of directors report noted his failure to properly monitor the LJM partnership, which became a focal point for investigators looking into alleged misdeeds by Fastow.
Causey's attorney, Reid Weingarten, did not immediately return a call.
http://customwire.ap.org/dynamic/stories/E/ENRON_FASTOW?SITE=DCTMS&SECTION=HOME&TEMPLATE=DEFAULT
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