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Enron Corporation was an American energy, commodities, and services company based in Houston, Texas. It was founded by Kenneth Lay in 1985 as a merger between Lay's Houston Natural Gas and InterNorth, both relatively small regional companies.
The Enron scandal was an accounting scandal involving Enron Corporation, an American energy company based in Houston, Texas.
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.
Enron was a U.S. energy company that perpetrated one of the biggest accounting frauds in history. Read about Enron’s CEO and the company’s demise.
Enron used special-purpose vehicles to hide its debt and toxic assets from investors and creditors. The price of Enron’s shares went from $90.75 at its peak to $0.26 at bankruptcy.
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.
This spring marks the 20th anniversary of the beginning of the dramatic and cataclysmic demise of Enron Corp. A scandal of exceptional scope and impact, it was (at the time) the largest bankruptcy in American history.
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.
Enron’s bankruptcy on Dec. 2, 2001, was the largest in U.S. history at the time, ending a stunning fall from grace. The company has become a symbol of corporate fraud, yet it leaves a long...
By Lesley Curwen. Presenter, BBC Radio 4. I was crouching on the marble floor of a US Senate committee room, hunched over a recording machine, as witnesses swore to tell the truth about the...