Andrew Fastow
American convicted felon and financier
Andrew Stuart Fastow (born December 22, 1961) is an American former financier who pled guilty to felony securities fraud and other crimes. Fastow was the chief financial officer of Enron Corporation, an energy trading company based in Houston, Texas, until he was fired shortly before the company declared bankruptcy.2
From Wikipedia’s article on Andrew Fastow (this version), CC BY-SA 4.0.
Born Dec 22, 1961.1
About
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 Enron's massive losses in their quarterly balance sheets. By unlawfully maintaining personal stakes in these ostensibly independent ghost-entities, he was able to defraud Enron out of tens of millions of dollars.
The U.S. Securities and Exchange Commission opened an investigation into his and the company's conduct in 2001. Fastow was sentenced to a six-year prison sentence and ultimately served five years for convictions related to these acts. His wife, Lea Weingarten, also worked at Enron, where she was an assistant treasurer; she pleaded guilty to conspiracy to commit wire fraud, money laundering conspiracy and filing fraudulent income tax returns, and was sentenced to 12 months in prison despite a plea bargain which proposed she serve five months in jail, and five months in home-detention.
From Wikipedia’s article on Andrew Fastow, shared under CC BY-SA 4.0.2
Companies
Early life and education
- Date not recordedNational Taiwan Normal University3
- Date not recordedTufts University3
- Date not recordedNew Providence High School3
- Date not recordedKellogg School of Management3
Fastow was born in Washington, D.C. He grew up in New Providence, New Jersey, the son of middle class Jewish parents, Carl and Joan Fastow, who worked in retail and 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.
Fastow graduated from Tufts University in 1983 with a B.A. in Economics and Chinese. While there, he met his future wife, Lea Weingarten, daughter of Miriam Hadar Weingarten (a former Miss Israel 1958), whom he married in 1984. Fastow and Weingarten both earned MBAs at Northwestern University and worked for Continental Illinois bank in Chicago. Both he and his wife attended Congregation Or Ami, a conservative synagogue in Houston where he taught Hebrew School.
From Wikipedia’s article on Andrew Fastow (this version), CC BY-SA 4.0.
Career
Occupation: businessperson.5
While at Continental, 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 1994, Continental became the largest U.S. bank to fail in American history until the seizure of Washington Mutual in 2008.
Due to his work at Continental, Fastow was hired in 1990 by Jeffrey Skilling at the Enron Finance Corp. Fastow was named chief financial officer at Enron in 1998.
Investment in KeenCorp
Fastow became principal and investor in KeenCorp in 2016. KeenCorp is a Netherlands-based company that offers analytics and artificial intelligence products that monitor "day-to-day workflow: E-mails, Microsoft Teams chats, Google Suite, and Slack" in order to analyze employee sentiment and engagement.
Originally, Fastow connected with KeenCorp when the company was beta testing its software using a digital database of Enron emails.
From Wikipedia’s article on Andrew Fastow (this version), CC BY-SA 4.0.
Personal life
Links
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1WikidataAndrew Fastow on Wikidata
- 2WikipediaAndrew Fastow on Wikipedia
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- 8WikidataEnron, Board member