boston.com Business your connection to The Boston Globe

Fastow fails to tie Skilling to side deals

HOUSTON -- The prosecution's star witness could offer no hard evidence yesterday of any improper deals with former Enron chief executive Jeffrey Skilling that were used to help the firm look stronger to Wall Street than it was.

Former chief financial officer Andrew Fastow was grilled about whether there were any documents proving Skilling's involvement. He said he couldn't remember, leaving jurors to decide whether to take an admitted liar's word that he had discussed those deals with Skilling.

Fastow, whose testimony has been highly anticipated, underwent a second day of cross-examination yesterday in the conspiracy and fraud trial of Skilling and Enron founder Kenneth Lay.

Fastow has linked both his former bosses to a wide-ranging effort to hide Enron's wobbly finances from investors, in part by using his partnerships to buy assets and rid the energy company's books of hundreds of millions of dollars in debt.

Lay has repeatedly pegged Fastow as a crook who betrayed his trust and helped undermine the company, which collapsed into bankruptcy proceedings in December 2001. His lawyers have yet to cross-examine the ex-finance chief.

SEARCH THE ARCHIVES
 
Today (free)
Yesterday (free)
Past 30 days
Last 12 months
 Advanced search / Historic Archives