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Enron scandal, series of events that resulted in the bankruptcy of the U.S. energy, commodities, and services company Enron Corporation in 2001 and the dissolution of Arthur Andersen LLP, which had been one of the largest auditing and accounting companies in the world.
In early December 2001, innovative energy company Enron Corporation, a darling of Wall Street investors with $63.4 billion in assets, went bust. It was the largest bankruptcy in U.S. history.
A scandal of exceptional scope and impact, it was (at the time) the largest bankruptcy in American history. The alleged business practices of its executives led to numerous individual criminal convictions.
Accountancy firm Arthur Andersen saw its reputation destroyed by the Enron scandal. In the UK, there was little or no reform in response to Enron. And according to Labour peer Prem Sikka,...
The bankruptcy of Enron on Dec. 2, 2001, spawned an epic scandal, nearly two dozen criminal convictions and sweeping government reforms. Enron became an enduring symbol of corporate fraud....
The Enron scandal drew attention to accounting and corporate fraud, as shareholders lost $74 billion in the four years leading up to its bankruptcy, and its employees lost billions in pension...
Accountancy firm Arthur Andersen saw its reputation destroyed by the Enron scandal. In the UK, there was little or no reform in response to Enron. And according to Labour peer Prem Sikka,...