Judge sentences former Enron CFO to 6 years

[im10ashus]

HOUSTON (Reuters) -- Andrew Fastow, whose financial wizardry was exposed as fakery and theft in the Enron Corp. collapse, was sentenced to six years in prison Tuesday - four years less than provided in his 2004 plea agreement.

U.S. District Judge Ken Hoyt cited Fastow's cooperation with prosecutors, his desire to help victims suing to recover their losses and his visible remorse in imposing less than the 10 years to which Fastow had agreed in pleading guilty in 2004.

Noting that Fastow has forfeited more than $24 million and friends and family have turned over more than $5 million, the judge imposed no fine. But he ordered two years of supervised release after the sentence.

The judge rejected a request from lawyers for victims suing banks to recover Enron-related losses that Fastow be allowed to surrender Oct. 23, after giving a deposition in the case. Fastow hugged his wife and surrendered immediately after the hearing.

cont'd...

http://money.cnn.com/2006/09/26/news/newsmakers/bc.enron.fastow.reut/index.htm?cnn=yes

[Captain Hilts]

1. Pretty easy considered all those ruined pension funds and lives....nt

[dkofos]

2. He will die next week

[valerief]

16. He'll become a Noner (anagram of Enron) like Kenny Boy. Only

we all know, Kenny Boy is media-dead, not actually dead.

[Synnical]

3. Appalling!

Ten years would have been too lenient! But only six is just stunning.

[trotsky]

4. 6 years in a country club prison,

followed by a life of luxury thanks to the millions he hid away safely from all this.

Not a bad deal. There's a reason why people do these things, despite the risks of being caught. It's almost always gonna pay bigtime in the end.

[Warpy]

5. He'll be out in three for good behavior

He may have to sell some of his many properties, but he won't go hungry.

Meanwhile, he killed the hopes of millions for secure retirements stone dead.

[texpatriot2004]

6. 6 years, six! that's it? there is no justice in America nm

[im10ashus]

18. There is no justice.

We learned that in 2000. And 2004. And now almost daily.

[texpatriot2004]

19. True that nm

[kurth]

7. Only twice as bad as marijuana possession

Incarceration average for marijuana possession: 31 months

[im10ashus]

8. That's so insane.

A little doobage garners that much time?

[kurth]

9. Yep. See:

http://www.pubmedcentral.net/articlerender.fcgi?artid=1420279

[im10ashus]

12. It's so insane.

He ruined peoples lives and gets 6 years. God forbid someone have a little 420 from time-to-time.

[TahitiNut]

10. That'll be over $1 million/year on his first book deal.

Where can I get that kind of pay? :puke:

[ThomCat]

11. People get longer terms for having an ounce of weed.

x(

He destroyed people's chances at retirement, defrauded people to enrich himself, and committed one of the largest frauds in history. He should get far more than 6 years. He would get 60 years, with no chance of parole until after maybe 40 of those years are served.

:nuke:

[Disturbed]

13. White Collar Crime Pays....

well. The more money stolen the less penalty.

[ThomCat]

17. That is very true. The worse the crime

the less time executives seem to get for it.
x(

[MindPilot]

14. He should not be in jail, but he should get a life sentence.

He should be required to spend the rest of his life living on and working for minimum wage. He would not be permitted any contact with any financial institution or to maintain any account whatsoever. He should die miserable and destitute.

Either that or let me beat his fucking worthless head to a bloody pulp with a 2x4. I hope every day in jail, he gets ass-raped by some 300 pound guy with AIDS. Useless piece of shit.

Hey asswipe when are you going to return the money you stole from San Diego? Fucker.

[acmejack]

15. Fuck the injustice system

[spanone]

20. bush* will pardon him on leaving office anyway.

a black kid could rob a 7/11 for fifteen bucks and get six years.