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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.
The 53-count, 65-page indictment covered a broad range of financial crimes, including bank fraud, making false statements to banks and auditors, securities fraud, wire fraud, money laundering, conspiracy, and insider trading.
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...
Enron executives used fraudulent accounting practices to inflate the company's revenues and hide debt in its subsidiaries. The SEC, credit rating agencies, and investment banks were also...
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.
The case would become the largest and most complex white-collar investigation in FBI history and spawn a unique investigative task force of prosecutors, agents and analysts in Houston and...
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....
On June 15, 2002, Arthur Andersen was found guilty of shredding evidence and lost its license to engage in public accounting. Three years later, Andersen lawyers successfully persuaded the U.S. Supreme Court to unanimously overturn the obstruction of justice verdict on the basis of faulty jury instructions.
Its CEO Markus Braun was arrested on suspicion of accounting fraud and market manipulation. He has denied the allegations, saying that the company was the victim of fraud.
Former Enron Chief Executive Officer Jeffrey K. Skilling has been resentenced to 168 months in prison on conspiracy, securities fraud, and other charges related to the collapse of Enron Corporation.