May 18, 2011

Fastow Leaves Prison


Federal prison officials have moved the former finance chief of failed energy giant Enron Corp. from a prison in Louisiana to a halfway house in Houston.

The Federal Bureau of Prisons website shows Andrew Fastow was moved from a Pollack, La., prison to a low-security community corrections facility in Houston. The Houston Chronicle reports he'll likely remain there until Dec. 17.

Andrew Fastow was the CFO of Enron, and the mastermind behind the "off-banace sheet" entities that defrauded Enron shareholders by giving the appearance of greater gross revenue than the company was actually booking. Seems he was convicted and imprisoned a long time ago, but it has only been five years. His actions, and the enabling actions of the people around him, lead to unemployment and loss of life savings for thousands of people. And he's out of prison today.