Andrew Fastow Net Worth is$500 Thousand
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Profession: Businessperson
Date of Birth: Dec 22, 1961
Country: United States of America
Andrew Fastow is an American businessman he has a net worth of $500 thousand. Andrew Fastow has earned his net worth as the former chief financial officer of the Enron Corporation. In 2001 the U.S. Securities and Exchange Commission investigated both Enron and Fastow; he was later indicted by a federal grand jury in 78 counts including fraud, money laundering, and conspiracy. Enron used limited partnerships which they controlled to hide massive losses. Fastow pled guilty to two charges, in return for a lighter sentence he became an informant and help in the prosecutions of other former Enron executives. Fastow's wife Lea who was a former Enron assistant treasurer was sentenced to one year in a federal prison in Houston in 2004. In addition she also severed one additional year of a supervised released after pleading guilty to a misdemeanor tax charge. Andrew was born on December 22, 1961 in Washington, D.C he graduated from Tufts University with a B.A. in both economics and Chinese in 1983. During his days at New Providence High School he took part in the student government, played on the tennis team, and he was also a member of the school band. Fastow was the only student representative on the Board of Education for the State of New Jersey. In May 2011 he was transferred to a halfway house as a transition process for his upcoming release. You can read several books about the Enron conspiracy and Andrew Fastow such as: Conspiracy of Fools written in 2005 by Kurt Eichenwald, and the 2003 book by Bethany McLean and Peter Elkind called The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron. Later in 2005 the book was turned in a feature film titled Enron: The Smartest Guys in the room.
Andrew Stuart Fastow (born December 22, 1961) was the chief financial officer of Enron Corporation that was based in Houston, Texas until the U.S. Securities and Exchange Commission opened an investigation into his and the company's conduct in 2001. Fastow was one of the key figures behind the complex web of off-balance-sheet special purpose entities (limited partnerships which Enron controlled) used to conceal their massive losses. Fastow served a six-year prison sentence for charges related to these unlawful acts.
Fastow was born in Washington, D.C. He grew up in New Providence, New Jersey, the middle of three sons in a Jewish family. His parents, Carl and Joan Fastow, worked in merchandising. Fastow graduated from New Providence High School, where he took part in student government, played on the tennis team, and played in the school band. He was the sole student representative on the New Jersey State Board of Education.[citation needed]
Fastow graduated from Tufts University in 1983 with B.A.s in economics and Chinese. While there, he met his future wife, Lea Weingarten, whom he married in 1984. Fastow and Weingarten both earned MBAs at Northwestern University and worked for Continental Illinois National Bank and Trust Company in Chicago.[citation needed]
While at Continental Illinois, Fastow worked on the newly emerging "asset-backed securities". The practice spread across the industry "because it provides an obvious advantage for a bank," noted the Chicago Tribune. "It moves assets off the bank's balance sheet while creating revenue." In 1984, Continental became the largest U.S. bank to fail in American history until the seizure of Washington Mutual in 2008.[citation needed]
Based on his work at Continental, Fastow was hired in 1990 by Jeffrey Skilling at the Enron Finance Corp. Fastow was named the Chief Financial Officer at Enron in 1998.
Deregulation in the US energy markets in the late 1990s provided Enron with trade opportunities, including

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Andrew Fastow Latest News

Former Enron CFO Andrew Fastow Confronts the Fraud Examiners

Andrew Fastow, the former CFO of the bankrupt energy-trading firm Enron, admitted to the wrongs he committed, but also blamed the accountants at the defunct firm Arthur Andersen, in a speech at the Association of Certified Fraud Examiners’ Global Fraud ...
Posted: June 27, 2013, 6:03 am

Enron exec Andy Fastow nears prison release

NEW YORK (CNNMoney) -- Former Enron executive Andrew Fastow has been transferred from prison to a halfway house, the last stage of incarceration before his scheduled release later this year, according to the federal Bureau of Prisons. Fastow, who was chief ...
Posted: May 18, 2011, 9:17 am

Andrew Fastow draws on Enron failure in speech on ethics at CU

Andrew Fastow, the former Enron chief financial officer who went to prison for securities fraud, told an audience at University of Colorado-Boulder Monday night that following the rules isn't enough. "When I was initially charged I still thought I was not ...
Posted: March 20, 2012, 11:45 am
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