andrew fastow g.w. amos lauren wright. background born december 22, 1961 in washington dc born...

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Andrew Andrew Fastow Fastow G.W. Amos G.W. Amos Lauren Wright Lauren Wright

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Page 1: Andrew Fastow G.W. Amos Lauren Wright. Background Born December 22, 1961 in Washington DC Born December 22, 1961 in Washington DC B.A. in Chinese and

Andrew Andrew FastowFastow

G.W. AmosG.W. AmosLauren WrightLauren Wright

Page 2: Andrew Fastow G.W. Amos Lauren Wright. Background Born December 22, 1961 in Washington DC Born December 22, 1961 in Washington DC B.A. in Chinese and

BackgroundBackground

Born December 22, 1961 in Washington DCBorn December 22, 1961 in Washington DC

B.A. in Chinese and EconomicsB.A. in Chinese and Economics

M.B.A. received in 1986M.B.A. received in 1986

Page 3: Andrew Fastow G.W. Amos Lauren Wright. Background Born December 22, 1961 in Washington DC Born December 22, 1961 in Washington DC B.A. in Chinese and

Early CareerEarly Career

Continental Illinois National Bank and Trust Continental Illinois National Bank and Trust Company Company

Became a pioneerBecame a pioneer

Savings and Loan Crisis Savings and Loan Crisis

Page 4: Andrew Fastow G.W. Amos Lauren Wright. Background Born December 22, 1961 in Washington DC Born December 22, 1961 in Washington DC B.A. in Chinese and

EnronEnron

Hired in 1990 by Jeffery SkillingHired in 1990 by Jeffery Skilling

Became CFO in 1998Became CFO in 1998

Enron went under investigation in 2001Enron went under investigation in 2001

Page 5: Andrew Fastow G.W. Amos Lauren Wright. Background Born December 22, 1961 in Washington DC Born December 22, 1961 in Washington DC B.A. in Chinese and

““Special Purpose Special Purpose Entities”Entities”

Off the booksOff the books

Owned by co-ops by Enron’s employeesOwned by co-ops by Enron’s employees

Appearance of profit and growthAppearance of profit and growth

Page 6: Andrew Fastow G.W. Amos Lauren Wright. Background Born December 22, 1961 in Washington DC Born December 22, 1961 in Washington DC B.A. in Chinese and

DebtDebt

Stocks crashedStocks crashed

Curious corporate auditors and stockholdersCurious corporate auditors and stockholders

Ken Lay removed Fastow as CFOKen Lay removed Fastow as CFO

Page 7: Andrew Fastow G.W. Amos Lauren Wright. Background Born December 22, 1961 in Washington DC Born December 22, 1961 in Washington DC B.A. in Chinese and

Charges & ConvictionsCharges & Convictions

Charges brought against all Enron employeesCharges brought against all Enron employees

Fastow’s charges: conspiracy, fraud, insider trading, Fastow’s charges: conspiracy, fraud, insider trading, & money laundering& money laundering

Convicted of 2 counts of security fraud and serving Convicted of 2 counts of security fraud and serving a 6 year prison sentence a 6 year prison sentence

Page 8: Andrew Fastow G.W. Amos Lauren Wright. Background Born December 22, 1961 in Washington DC Born December 22, 1961 in Washington DC B.A. in Chinese and

SourcesSources

TIME MagazineTIME Magazine

ForbesForbes

Biography.comBiography.com