Ex-Enron finance chief Fastow out of prison

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Associated Press

Posted on May 18, 2011 at 8:58 AM

Updated Wednesday, May 18 at 8:58 AM

HOUSTON—Federal prison officials have moved the former finance chief of failed energy giant Enron Corp. from a prison in Louisiana to a halfway house in Houston.

The Federal Bureau of Prisons website shows Andrew Fastow was moved from a Pollack, La., prison to a low-security community corrections facility in Houston. The Houston Chronicle reports he’ll likely remain there until Dec. 17.

Fastow is considered the mastermind behind the financial schemes that doomed Enron. He has been serving a six-year prison term since 2006 on conspiracy convictions. The reduced sentence was for testifying against former Enron CEO Jeffrey Skilling and Chairman Kenneth Lay.

Lay and Skilling were convicted of fraud and conspiracy. Lay died in July 2006 before entering prison. Skilling awaits resentencing after the Supreme Court overturned his 24-year sentence.

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