Fastow sentenced to six years in prison

HOUSTON, Sept. 26 (UPI) -- A U.S. federal judge in Houston Tuesday sentenced Andrew Fastow, the former top finance officer of Enron Corp., to six years in prison.

Fastow, 44, pleaded guilty to fraud and conspiracy charges for designing an off-balance sheet accounting scam that brought down the once-mighty energy trader nearly five years ago, the Houston Chronicle said.

U.S. District Judge Kenneth Hoyt, who could have sentenced Fastow to 10 years behind bars under terms of the plea deal, also sentenced the tearful Fastow to two years of community service.

"I wish I could undo what I did at Enron but I can't," Fastow told the judge. "I will serve my sentence as part of my repentance that I've already begun."

The punishment comes after Fastow was indicted on 98 counts of fraud and conspiracy and pleaded guilty to two counts of conspiracy and was forced to surrender $30 million in cash and other assets.

Attorneys for Enron shareholders told Hoyt they appreciated Fastow's help in building cases against the banks that have not settled in a massive class-action lawsuit, the Chronicle said.