Former Enron Corp. finance chief Andrew Fastow testified Tuesday he ran financial partnerships designed to help the company mask as much as hundreds of millions of dollars in losses.
Fastow, 44, took the witness stand against his former bosses Kenneth Lay and Jeffrey Skilling, who are accused of fraud, conspiracy and other charges in the spectacular collapse of Enron in 2001. He told jurors about a partnership, known as LJM1, set up in 1999 to help Enron “solve a problem” – that it was facing future losses from its investment in a small startup firm.
