Fastow question - Democratic Underground

eek

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Thu Jan-15-04 11:11 AM
Original message

Fastow question

Is there a legal precaution that will keep Faastow from talking with kennyboy and shillinger during the several months before he's put in the slammah?

Seems like an awful lot of time for all of them top work out their stories together.

Similarly, how does he keep from being baxterized before he sings?

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BOSSHOG

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Thu Jan-15-04 11:23 AM
Response to Original message

1. The prosecution is maintaining a hammer

that the plea bargain can be rejected if they are not satisfied with what Fastow gives them. I think Fastow will roll on his buddies. He has no reason not to. an interesting side note I'd like to see explored in the "liberal" media - the comparison of Fastow's actions and those of bush at harken in the early 90's. At least one of those guys is going to jail.

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Richardo

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Thu Jan-15-04 05:29 PM
Response to Reply #1

8. Plus, if they don't like his testimony, they've got 90+ more counts....

to try him on.

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Ganja Ninja

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Thu Jan-15-04 11:27 AM
Response to Original message

2. I have another question.

So Fastow is going to jail for 10 years, is he also going to return the money he stoled?

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Caution

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Thu Jan-15-04 11:32 AM
Response to Reply #2

3. Unde rthe federal system

his assets have most likely already been seized.

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TXlib

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Thu Jan-15-04 11:37 AM
Response to Reply #3

4. Did they invoke RICO against him?

I just assumed that the fine, although less than half of the estimated $66 million he made through shady dealings, would be complemented by enormous civil suits against him.

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eek

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Thu Jan-15-04 05:23 PM
Response to Reply #4

5. how do they protect him from being baxterized?

n/t

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TXlib

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Thu Jan-15-04 05:24 PM
Response to Reply #5

6. what does 'baxterized' mean?

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catzies

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Thu Jan-15-04 06:01 PM
Response to Reply #6

11. It's just like "Wellstoned." Named for Cliff Baxter of Enron

Found dead in his car April 2002. The night before he was to testify to Congress.

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Richardo

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Thu Jan-15-04 05:27 PM
Response to Reply #2

7. Nearly $30 million...

...the rest is up for grabs in the civil courts. His guilty plea makes defending a civil action next to impossible.

Hopefully, I'll see him living under an overpass near the Galleria about 2015 or so...

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TXlib

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Thu Jan-15-04 05:32 PM
Response to Reply #7

9. Can they actually make him pay?

I would imagine he's hidden the money. I can think of several possible money laundering schemes (do a $15 million trade with a Cayman Islands brokerage firm that appears to be a very risky derivatives trade, and the firm reports the entire investment was lost, but in reality, they keep a percentage, and hold the rest in trust for him) that make it look like he doesn't have the money.

When he gets out of jail, he can skip to Belize, and live the rest of his life on several 10s of millions of dollars.

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Richardo

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Thu Jan-15-04 05:34 PM
Response to Reply #9

10. I would imagine if you don't pay fines or judgments you go back to jail..

Edited on Thu Jan-15-04 05:40 PM by Richardo

...or never get out in the first place. :shrug:

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