Former CFO, Enron
Andrew Fastow was the chief financial officer of energy trading company Enron Corporation, until the U.S. Securities and Exchange Commission opened an investigation into his and the company's conduct in 2001. Enron, once the nation's seventh-largest company, declared bankruptcy in December 2001 after years of attempting to hide billions in debt and cover up failed ventures. The collapse wiped out thousands of jobs, more than $60 billion in market value and more than $2 billion in pension plans. Fastow was one of the key figures behind the complex web of off-balance-sheet special purpose entities used to conceal their massive losses.
In 2004, Fastow pled guilty to two counts of securities fraud, and was sentenced to six years in federal prison. He completed his sentence in 2011. He now provides litigation support at a law firm and consults with directors, attorneys and hedge funds on how best to identify potentially critical financial, accounting, compensation and cultural issues.
*The ACFE does not compensate convicted fraudsters.