Enron Ep3

Who was Enron's Chief Financial Officer who was charged with financial crimes?

Andy Fastow

What was Andy Fastow charged with in his indictment?

A 109 count indictment for various financial crimes including two fraud counts.

What did Andy Fastow do after being released from prison in 2011?

He began public speaking about ethics and business.

What was the name of the fund that Andy Fastow created?

LJM, named after his wife Lee and sons Jeffrey and Matthew.

What role did Jim Timmins have at Enron?

He was the Director of Private Equity.

What was the purpose of the LJM fund?

To raise capital for investments into Enron ventures.

What did Sharon Watkins discover about the assets connected to LJM?

They were used to protect Enron from reporting large losses.

What was the nature of the financial dealings involving the Raptors?

They were used as a hedge to absorb losses while disguising the company's poor performance.

What happened to Arthur Andersen when their actions related to Enron were revealed?

They were found guilty of obstruction of justice, but the conviction was later overturned by the Supreme Court.

What did Watkins request after her meeting with Kinley regarding the investigation?

She requested to be moved out of Fastow’s department.

What was the outcome for Andy Fastow after his financial misconduct was disclosed?

He was fired.

How much money did Andy Fastow reportedly make from LJM?

Fastow made approximately 11 million dollars, although estimates suggested he profited around 45 million.

What warning did some board members raise during Fastow's pitches?

Concerns about Fastow’s conflict of interest.

What critical oversight did Sharon Watkins highlight regarding the Raptors?

She noted that the financial structures were complex and the math didn't add up, indicating potential fraud.

What was the source of funds that were improperly managed by Andy Fastow and LJM?

Investments from public pension funds representing thousands of employees.

What happened to Jim Timmins after leaving Enron?

He took documents related to LJM with him but claimed he did not intend to go public.

What did Fastow claim about his compensation while being CFO?

He felt underpaid for the services he provided to the company.

What did Fastow's hedge strategy involve?

Using Enron's own stock to hedge against losses.

What significant conflict of interest did Fastow face as CFO?

He was using LJM to benefit his own financial interests rather than those of the shareholders.