Bush gets big Enron conviction

[NHPolitico]

Fastow, Wife Agree to Enter Guilty Pleas
 
Impasse over judge's refusal to give Lea Fastow just five-month sentence resolved, sources say.
January 13, 2004: 9:49 PM EST
 
HOUSTON (Dow Jones) - Former Enron finance chief Andrew Fastow and his wife have agreed to plead guilty for their roles in a massive accounting scandal that brought down the energy giant in 2001, sources told The Associated Press on Tuesday.

The sources, who spoke on condition of anonymity, said an impasse that erupted last week over a judge's refusal to give Lea Fastow only a five-month prison sentence has been resolved.

Both Fastows were expected to enter their pleas Wednesday in federal court.

Lea Fastow is expected to plead guilty to a tax charge after her husband pleads guilty in a deal that involves a 10-year prison sentence. It wasn't clear Tuesday what crimes Andrew Fastow would plead guilty to.
 
Bryan Sierra, spokesman for the Justice Department , declined comment. Mike DeGeurin, Lea Fastow's lead attorney, and John Keker, her husband's lead attorney, didn't immediately return calls for comment. Fastow family spokesman Gordon Andrew also declined comment.

Fastow's cooperation could be helpful in the government's probe of other Enron figures, including former chief executives Jeffrey Skilling and Kenneth Lay.

Both those men have denied wrongdoing during their tenures at Enron, which collapsed in late 2001 and sought bankruptcy-law protection in the face of a massive loss of investment confidence over the company's financial dealings.

Lawyers for the government and for Lea Fastow had been expected to appear Wednesday before U.S. District Judge David Hittner for a routine hearing to discuss potential jurors in her criminal trial, which was scheduled for Feb. 10 .

A plea deal with Lea Fastow was snagged after Judge Hittner balked at a requirement that he sentence her to five months in prison for her alleged role in the scheme that brought down Enron. The judge insisted he retain the right to alter her sentence.

[jravnsbo]

good they should go to jail!

[opebo]

good they should go to jail!

Well, OK I guess so, but the kind of sentences handed down for this type of white-collar non-violent crime these days are absurd.  I mean something like ten years?  That's just crazy.  I'd say a few months or at most a year or two - in a *safe* prison - would be reasonable.  The main point should be confiscation of assets, not prison terms for people who really aren't a threat to society now that they're known con artists.

[jravnsbo]

I disagree.  I think they should go to prison for a while.  They have damaged the lives of many many people.  I think we should be tougher on white collar crime.  They stole BILLIONS and destroyed many lives far worse than any armed robber walking int he front door.

[Gustaf]

I disagree.  I think they should go to prison for a while.  They have damaged the lives of many many people.  I think we should be tougher on white collar crime.  They stole BILLIONS and destroyed many lives far worse than any armed robber walking int he front door.

Agreed. I hate greed. (I just had to post that little bad rhyme...)

[© Tweed the Younger]

I disagree.  I think they should go to prison for a while.  They have damaged the lives of many many people.  I think we should be tougher on white collar crime.  They stole BILLIONS and destroyed many lives far worse than any armed robber walking int he front door.

I agree.