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  2. Synthetic lease - Wikipedia

    en.wikipedia.org/wiki/Synthetic_lease

    The post-Enron rules of the Financial Accounting Standards Board, which require some measure of independence of a special purpose entity from the operating company, and genuine economic substance to the transaction in which the SPE is a party, made it difficult or impossible to structure a synthetic lease SPE, so synthetic leases have ...

  3. Enron - Wikipedia

    en.wikipedia.org/wiki/Enron

    Special-purpose entities were created to mask significant liabilities from Enron's financial statements. These entities made Enron seem more profitable than it was, and created a dangerous spiral in which, each quarter, corporate officers would have to perform more and more financial deception to create the illusion of billions of dollars in ...

  4. Enron scandal - Wikipedia

    en.wikipedia.org/wiki/Enron_scandal

    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.

  5. Andrew Fastow - Wikipedia

    en.wikipedia.org/wiki/Andrew_Fastow

    Fastow was one of the key figures behind the complex web of off-balance-sheet special purpose entities (limited partnerships which Enron controlled) used to conceal Enron's massive losses in their quarterly balance sheets. By unlawfully maintaining personal stakes in these ostensibly independent ghost-entities, he was able to defraud Enron out ...

  6. Special-purpose entity - Wikipedia

    en.wikipedia.org/wiki/Special-purpose_entity

    A special-purpose entity (SPE; or, in Europe and India, special-purpose vehicle/SPV; or, in some cases in each EU jurisdiction, FVC, financial vehicle corporation) is a legal entity (usually a limited company of some type or, sometimes, a limited partnership) created to fulfill narrow, specific or temporary objectives.

  7. 'Large number' of Americans' metadata stolen by Chinese ...

    www.aol.com/news/large-number-americans-metadata...

    WASHINGTON (Reuters) -A large number of Americans' metadata has been stolen in the sweeping cyberespionage campaign carried out by a Chinese hacking group dubbed "Salt Typhoon," a senior U.S ...

  8. Variable interest entity - Wikipedia

    en.wikipedia.org/wiki/Variable_interest_entity

    A public company with a financial interest in such entities may be subject to certain financial reporting requirements. VIEs gained notoriety in the early 2000's due to their role in the Enron scandal, where the company used special-purpose entities to hide mounting losses from investors.

  9. Ex-Google CEO Eric Schmidt says human operators need to have ...

    www.aol.com/ex-google-ceo-eric-schmidt-163658792...

    Former Google CEO Eric Schmidt says human-directed AI-controlled drones are the future of war. Schmidt's startup, White Stork, is developing drones for Ukraine to use in its war with Russia.