Andrew Fastow

@Former Cfo of Enron, Career and Family

Andrew Fastow is a convicted criminal and businessman

Dec 22, 1961

WashingtonAmericanNorthwestern UniversityCriminalsFraudstersSagittarius Celebrities
Biography

Personal Details

  • Birthday: December 22, 1961
  • Nationality: American
  • Famous: Former Cfo of Enron, Northwestern University, Criminals, Fraudsters
  • City/State: Washington
  • Spouses: Lea Fastow
  • Known as: Andrew Stuart Fastow
  • Universities:
    • Northwestern University
    • New Providence High School
    • Tufts University
    • Northwestern University

Andrew Fastow born at

Washington, D.C., USA

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Birth Place

Andrew Fastow was born as Andrew Stuart Fastow on December 22, 1961 in Washington, D.C., USA, to Joan and Carl Fastow. He studied at the New Providence High School and later on graduated from the Tufts University in 1983. Then he received his MBA degree from the Northwestern University.

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Personal Life

Fastow married Lea Weingarten (daughter of Miss Israel 1958 Miriam Hadar Weingarten) in 1984. The couple had first met while studying at the Tufts University.

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Personal Life

Initially Andrew Fastow worked in Chicago’s Continental Illinois National Bank and Trust Company. Then in 1990, he was hired at the Enron Finance Corp. Eight years later, he became the Chief Financial Officer of the company.

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Career

In the late 1990s, deregulation in the American energy markets provided Enron with several trade opportunities. Fastow developed a complex web of corporations with the dual purposes of making money for Enron while also hiding the severe losses in its quarterly balance sheets.

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Career

By way of this process, Fastow was able to make the company’s balance sheet appear debt-free; however, in reality it owed more than thirty billion dollars at one point. Fastow himself had an individual financial stake in these funds and he eventually pressurized some of the largest American banks to invest in his funds. He also contacted the analysts of these firms and threatened to fire those who dared to report his company with negative ratings. Fastow's approach was so successful that the year before the company declared bankruptcy, its stock was at an all-time high of $90.

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Career

On October 31, 2002, Fastow was charged of fraud, money laundering, conspiracy, and other such crimes. On January 14, 2004, he agreed to serve a 10-year prison sentence. However, in the end he received a shorter sentence of six years as he had agreed to become an informant. He was released in December 2011 after serving his sentence.

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Career

Following his release he accepted a job as a document review clerk for a law firm in Houston.

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Career