Enron’s ex-CEO will testify this week


Andrew Fastow, the former CEO of Enron will testify this week in the trial of Kenneth Lay and Jeffrey Skilling. Fastow created partnerships to do financial “deals” with Enron, but the partnerships did not meet accounting requirements to make them independent of Enron

The defense is expected to say that Lay and Skilling were really victims of Fastow’s fraud. This falls in line with a defense claim that many Enron executives pleaded guilty to crimes they never committed.

Fastow has already pleaded guilty to two counts of conspiracy related to Enron’s collapse, and has agreed to 10 years in prison.

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