The chief architect of complex financial schemes blamed for last year's collapse of Enron has been charged with 78 counts of fraud, money laundering, conspiracy and other charges.
The charge on Mr Andrew Fastow, handed down by a grand jury in Houston, Texas, alleges Mr Fastow was at the centre of multiple schemes that produced phantom profits and let him skim off millions of dollars for himself, his family and friends.
Neither Mr Fastow, the highest-ranking former official of the failed energy giant charged so far in the US Justice Department's inquiry, nor his lawyers were present when the indictment was presented in federal court. His hearing was scheduled for Wednesday. Mr Fastow (40) is free on bail.
"These charges are full of sound and fury, but the truth about Enron has yet to be told," said Fastow's lawyer. "When that truth is told, to a jury of 12 honest Americans, Andy Fastow will be set free," he said.
Prosecutors are expected to pressure Mr Fastow to learn what he might say about the actions of his colleagues, including former Enron chairman Mr Kenneth Lay and former chief executive Mr Jeffrey Skilling, neither has been charged.
Mr Fastow's lawyers have said top Enron executives approved his work and that Mr Fastow did not believe he committed any crimes.
Enron, number seven on the Fortune 500 list two years ago, filed for bankruptcy on December 2nd.
PA