Fastow set to testify at Enron trial

[babylonsister]

I think this is about to get good!

http://www.timesdispatch.com/servlet/Satellite?pagename=RTD%2FMGArticle%2FRTD_BasicArticle&c=MGArticle&cid=1137834449923&path=!business&s=1045855934855

Fastow set to testify at Enron trial

The Associated Press

Mar 2, 2006

HOUSTON -- Andrew Fastow, the former Enron Corp. chief financial officer, will testify next week in the fraud and conspiracy trial of his former @h bosses.

Fastow admitted he engineered schemes to hide company debt and inflate profits for years.

Prosecutors told U.S. District Judge Sim Lake yesterday that Fastow's appearance likely would precipitate the much-anticipated faceoff between the defendants and the man credited with devising the financial strategies that helped fuel the company's swift December 2001 descent into bankruptcy proceedings.

But Fastow isn't the only worry for the defense. David Delainey, a former high-ranking trading and retail energy executive, testified yesterday that he, Skilling and others lied about the company's financial health as part of a conspiracy to defraud investors.

Delainey has been the government's strongest witness so far, describing the collusion among executives, including Skilling, to make the company look healthier than it was.

Fastow will make his first public statements about his admitted crimes at Enron, and his testimony could be devastating to his former bosses' insistence that they did nothing wrong and no fraud occurred at the company.

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