Andy Fastow
Andrew Fastow was one of the major figures behind the complex web of off-balance-sheet special purpose entities used to conceal their massive losses. In 2004, he pled guilty to two counts of securities fraud and was sentenced to six years in federal prison. He completed his sentence in 2011. Fastow now provides litigation support at a law firm and consults with directors, attorneys, and hedge funds on how best to identify potentially critical financial, accounting, compensation, and cultural issues. He is also a Principal and Investor of KeenCorp, an artificial intelligence software company based in Rotterdam.
Andy Fastow Professional Experience / Academic History
Professional Experience
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Principal and Investor
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Chief Financial Officer
Academic History
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MBA in Finance
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BA in Economics and Chinese
- Since his release from prison, Fastow has been a guest lecturer at universities and corporations.
- He also speaks at conferences for management, corporate directors, attorneys, accountants, and certified fraud examiners.
- He has appeared as a guest on Real Vision.
FRAUD
- By illegally maintaining individual stakes in these independent ghost-entities, Fastow defrauded the company out of tens of millions of dollars.
- On October 31, 2002, he was charged with conspiracy, wire fraud, money laundering, false statements, securities fraud, and insider trading.
- On January 14, 2004, he agreed to serve a 10-year prison sentence.
- In the end, he received a shorter sentence of six years as he had agreed to become an informant.
- He was released in December 2011 after serving his sentence.
KEYNOTE SPEECH
- United Nations’ Principles of Responsible Management Conference
- FBI’s Advanced Financial Crimes Seminar
- Association of Certified Fraud Examiners Annual Conference
- American Accounting Association Annual Conference
- Financial Times’ Outstanding Directors Conference