LJM (Lea Jeffrey Michael) - LJM2

LJM2

In what was essentially the second version of the same idea, Fastow proposed in October 1999 to Enron's finance Board the creation of LJM2 Co-Investment L.P. Once again, Fastow would act as general director of a much larger private equity fund that would be funded with $200 million of institutional funds. Again, the question of how Fastow's dual role as Enron's CFO and LJM2's general director was not a conflict of interest was easily laid aside.