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Enron logo. The Enron scandal was an accounting scandal sparked by American energy company Enron Corporation filing for bankruptcy after news of widespread internal fraud became public in October 2001, which led to the dissolution of its accounting firm, Arthur Andersen, previously one of the five largest in the world.
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 at the time of the merger.
The 2000–2001 California electricity crisis, also known as the Western U.S. energy crisis of 2000 and 2001, was a period of time during which the U.S. state of California had a shortage of electricity supply caused by market manipulations and capped retail electricity prices. [10]
When energy-trading company Enron declared bankruptcy in 2001, it was the largest bankruptcy filing in U.S. history. The company's demise was tinged with scandal, as it was revealed that Enron ...
Enron’s legacy was the employees in the trenches. Leave Enron buried,” she said. But Sherron Watkins, Enron’s former vice president of corporate development and the main whistleblower who helped uncover the scandal, said she didn’t have a problem with the joke because comedy “usually helps us focus on an uncomfortable historical event ...
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.
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.
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