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An Enron manual of ethics from July 2000, about a year before the company collapsed. Enron's complex financial statements were confusing to shareholders and analysts. [1]: 6 [10] When speculative business ventures proved disastrous, it used unethical practices to use accounting limitations to misrepresent earnings and modify the balance sheet to indicate favorable performance.
The trial of Kenneth Lay, former chairman and CEO of Enron, and Jeffrey Skilling, former CEO and COO, was presided over by federal district court Judge Sim Lake in the Southern District of Texas in 2006 in response to the Enron scandal.
Cases in Business Ethics. Thousand Oaks, CA: Sage. ISBN 1412909244. Mimi Swartz, Sherron Watkins, Power Failure: The Inside Story of the Collapse of Enron (Doubleday, 2003) ISBN 0-385-50787-9. Daniel Scotto "American Financial Analyst: The First Analyst to recommend the selling of Enron Stock". Calkins, Laurel Brubaker (November 4, 2004).
In the long history of financial frauds, Enron ranks near the top of the list, with the once high-flying energy trading company suddenly unraveling in a web of lies and accounting sleight-of-hand ...
Enron: United States: 28 Nov 2001: Energy: Directors and executives fraudulently concealed large losses in Enron's projects. A number were sentenced to prison. [7] [8] $63.4 billion Chiquita Brands Int: United States: 28 Nov 2001: Food: Accumulated debts, after a series of accusations relating to breaches of labour and environmental standards.
Arthur Andersen LLP v. United States, 544 U.S. 696 (2005), was a United States Supreme Court case in which the Court unanimously overturned accounting firm Arthur Andersen's conviction of obstruction of justice in the fraudulent activities and subsequent collapse of Enron.
On August 15, 2001, Sherron Watkins, Vice President of Corporate Development at Enron, wrote an anonymous letter to Kenneth Lay sharing her concerns about the company's accounting practices, and cited Baxter's prior complaints to Jeffrey Skilling, Andrew Fastow, and other Enron executives regarding what he considered Enron's unethical and possible illegal transactions.
Skilling v. United States, 561 U.S. 358 (2010), is a United States Supreme Court case interpreting the honest services fraud statute, 18 U.S.C. § 1346.The case involves former Enron CEO Jeffrey Skilling and the honest services fraud statute, which prohibits "a scheme or artifice to deprive another of the intangible right of honest services".