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American Morning

A Big Development in Enron Case

Aired January 14, 2004 - 08:14   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.


SOLEDAD O'BRIEN, CNN ANCHOR: Today in Houston, we could finally see a big development in the Enron case.
Andy Serwer is following the case. He's minding your business this morning -- good morning.

ANDY SERWER, "FORTUNE" MAGAZINE: Good morning to you, Soledad.

We've been talking about Andrew Fastow, the ex-CFO, chief financial officer, of Enron, and his wife, Lea Fastow, who also worked there, waiting for them to cop a plea. It's been going on for days and days, very difficult negotiations. Apparently today this will go down and what's going on is that Fastow, Andy Fastow is looking at a possible sentence of probably about 10 years. Here's what he's facing, though, Soledad, 98 charges. Ten years. He could have been looking at decades and decades. Reports saying he'll have to forfeit $20 million.

What about Lea Fastow? She will also be doing prison time, as well, probably about 10 to 16 months. But she was also facing four years. They have two small boys. They're not going to be going to prison at the same time, apparently, according to reports.

And the big news here, of course, we can move on perhaps to investigations of Jeff Skilling and Ken Lay.

O'BRIEN: It should open the door to more charges, as well, the prosecutors are hoping.

SERWER: That's exactly right.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com






Aired January 14, 2004 - 08:14   ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
SOLEDAD O'BRIEN, CNN ANCHOR: Today in Houston, we could finally see a big development in the Enron case.
Andy Serwer is following the case. He's minding your business this morning -- good morning.

ANDY SERWER, "FORTUNE" MAGAZINE: Good morning to you, Soledad.

We've been talking about Andrew Fastow, the ex-CFO, chief financial officer, of Enron, and his wife, Lea Fastow, who also worked there, waiting for them to cop a plea. It's been going on for days and days, very difficult negotiations. Apparently today this will go down and what's going on is that Fastow, Andy Fastow is looking at a possible sentence of probably about 10 years. Here's what he's facing, though, Soledad, 98 charges. Ten years. He could have been looking at decades and decades. Reports saying he'll have to forfeit $20 million.

What about Lea Fastow? She will also be doing prison time, as well, probably about 10 to 16 months. But she was also facing four years. They have two small boys. They're not going to be going to prison at the same time, apparently, according to reports.

And the big news here, of course, we can move on perhaps to investigations of Jeff Skilling and Ken Lay.

O'BRIEN: It should open the door to more charges, as well, the prosecutors are hoping.

SERWER: That's exactly right.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com