Notable inmates at the Oakdale Federal Correctional Institution include Andrew Fastow, the former CFO of Enron, and Bernard Ebbers, the former CEO of WorldCom. The prison released Fastow in 2011, but Ebbers is still in prison as of 2015 and is serving a 25-year sentence. The Oakdale Federal Correctional Institution is a low-security federal prison for male inmates. It is located in Oakdale, Louisiana.Continue Reading
Andrew Fastow was an inmate at Oakdale after his 2006 sentencing for his role in the Enron scandal. Enron was an American energy company that went bankrupt in 2001, at which time the U.S. Securities and Exchange Commission conducted an investigation that revealed that the company had been engaging in a massive corporate fraud scheme to misrepresent its financial condition. Fastow pled guilty to two counts of wire and securities fraud when he went on trial for hiding the company's losses from investors in order to keep stock prices high.
Bernard Ebbers has been an inmate at Oakdale since 2006, and his earliest possible release date is 2028. Ebbers was the CEO of WorldCom, a telecommunications corporation, and engaged in significant false financial reporting while at the helm of the company. Ebbers was convicted of nine felonies in 2005: one count of conspiracy, one count of securities fraud, and seven counts of filing false statements with securities regulators.Learn more about Famous Crimes