--- title: "Andrew Fastow: Enron CFO, LJM and case outcomes" language: en canonical: https://dossiertwist.com/dossiers/enron/participants/andrew-fastow/ as_of: 2026-10-15 keywords: ["Enron","Enron Creditors Recovery Corp.","LJM","Chewco","JEDI","Raptor","Arthur Andersen","Andrew Fastow","Kenneth Lay","Jeffrey Skilling","structured finance","bankruptcy","California electricity","accounting restatement"] --- # Andrew Fastow: Enron CFO, LJM and case outcomes - Also known as: Andrew Fastow **Question.** What were Fastow’s roles and the final outcomes? **Answer.** Fastow combined Enron’s finance leadership with control of LJM general partners. He pleaded guilty to conspiracy and received a six-year sentence in 2006. ## Roles and the dated record - Analysis: Fastow served as Enron’s executive vice president and CFO while managing the general partners of LJM1 and LJM2 from their 1999 formation through July 2001. These were two capacities with opposing negotiating interests. The board allowed the arrangement through Code of Conduct waivers and management-review requirements; that approval did not authorise undisclosed personal benefits. [s-doc7] [s-doc5] [s-doc13] - Analysis: His role extended beyond a remote shareholding. The Powers report described pressure on Enron employees negotiating with LJM and inadequate disclosure of the funds’ profits. Southampton, RADR, Chewco, Cuiaba and the Raptors raised different questions about control, promised returns and personal gains. Those episodes have separate accounts because their cash flows and legal structures differed. [s-doc13] [s-doc63] - Analysis: The company’s November 2001 filing said it believed Fastow had transferred his LJM interests to Kopper as of 31 July 2001. In January 2004 Fastow pleaded guilty to two conspiracy counts and separately settled the SEC case, accepting a lifetime officer-and-director bar without admitting or denying the civil allegations. His eventual September 2006 prison sentence was six years, rather than the ten years contemplated in the earlier plea terms. [s-doc7] [s-doc21] [s-doc22] [s-doc63] ## Sources - [s-doc7] Company statement source · s-doc7 - [s-doc5] The Role of the Board of Directors in Enron’s Collapse, U.S. Senate Permanent Subcommittee on Investigations - [s-doc13] Company statement source · s-doc13 - [s-doc63] Andrew S. Fastow, Former Enron Chief Financial Officer, Pleads Guilty, Settles Civil Fraud Charges and Agrees to Cooperate with Ongoing Investigation, U.S. Securities and Exchange Commission - [s-doc21] FORMER ENRON CHIEF FINANCIAL OFFICER ANDREW FASTOW PLEADS GUILTY TO CONSPIRACY TO COMMIT SECURITIES AND WIRE FRAUD, AGREES TO COOPERATE WITH ENRON INVESTIGATION, U.S. Department of Justice - [s-doc22] Former Enron Chief Financial Officer Andrew Fastow Sentenced to Six Years in Prison for Conspiracy to Commit Securities and Wire Fraud, U.S. Department of Justice