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Essay / Enron Scandal Essay - 682
Alex SerdioukAndrew Fastow, Enron ScandalThe Enron scandal is one of the biggest scandals in American history. Enron was once one of the largest companies in the world. It was the 6th largest energy company in the world. Due to the collapse of Enron, the company's investors lost almost $70 billion. This was all due to the numerous illegal activities carried out by Eron employees. One of these employees was Andrew Fastow, the CFO of the Enron company who had a lot to do with the collapse of the Enron company. Andrew Fastow was born on December 22, 1961 in Washington, DC. He grew up in New Providence, New Jersey. . Andrew was the second son of Carl and Joan Fastow who worked in merchandising. They were a typical middle-class Jewish family. Andrew participated in many school activities at New Providence High School, where he graduated. He was in student government, played in band, and played on the tennis team. He also participated in the education council. Andrew had a very good background in economics and government. He received his bachelor's degree in economics from Tufts University where he also met Lea Weingarten. Andrew Fastow married Lea Weingarten in 1984. A few years after graduating from Tufts University, they both went to Northwestern University where they earned an MBA. They soon found employment at the Continental Illinois National Bank And Trust Company in Chicago. Andrew was a very intelligent and well educated person and that is why the Enron scandal happened. Andrew was hired to work at Enron in 1990 by Jeffrey Skilling because of his exceptional work at Continental. After 8 years, Andrew held a very important position at Enron. He was appointed CFO of ...... middle of paper ......ft. He responded by saying that it was nobody's business. People think Andrew Fastow and other Enron workers got off too lightly. They still have a lot of money left.Bibliography “Enron Fast Facts”. CNN. Cable News Network, January 1, 1970. Web. April 6, 2014.Murphy, Kate and Alexei Barrionuevo. “Fastow sentenced to 6 years.” The New York Times. The New York Times, September 26, 2006. Web. April 6, 2014. “Fastow: Enron did not have to go bankrupt. » CNBC.com. Np, and Web. April 06, 2014. "Andrew Fastow draws on Enron's failure in speech on ethics at CU." -The Denver Post. Np, and Web. April 6, 2014.Meglio, Francesca Di. “Enron’s Andrew Fastow: The Mistakes I Made.” Bloomberg Business Week. Bloomberg, March 22, 2012. Web. April 06, 2014. “Biography of Andrew Fastow.” Bio.com. A&E NetworksTelevision, and Web. April 6. 2014.