Earlier this year the 67th annual oil and gas conference was held by the Center for American and International Law in Houston. Lucky delegates got to hear from a special guest speaker – CFO magazine’s chief financial officer of the year, 2000. The speaker displayed the trophy he had received for his work, and then held up another item – a red prison ID card.
He had been given both these things, he remarked, for the same activity – doing deals for Enron, the collapsed energy company. The speaker was Andrew Fastow (pictured), the former CFO who served five years in prison following a conviction for fraud. His work had been given the okay by accountants and lawyers, both in-house and external. He wasn’t so much a chief financial officer as a chief loophole officer, Fastow said. Boom, boom!
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