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The Enron scandal was an accounting scandal involving Enron Corporation, an American energy company based in Houston, Texas. When news of widespread fraud within the company became public in October 2001, the company declared bankruptcy and its accounting firm, Arthur Andersen – then one of the five largest audit and accountancy partnerships ...
Soon after Skilling's departure, whistleblower Sherron Watkins discovers the fraud in Enron's books and alerts Lay, telling him the company is headed to certain collapse unless he acts immediately. Like in 1987, Lay largely ignores the warnings and assures that Skilling left for personal reasons and the company is financially solid.
Andrew Stuart Fastow (born December 22, 1961) is an American convicted felon and former financier who was the chief financial officer of Enron Corporation, an energy trading company based in Houston, Texas, until he was fired shortly before the company declared bankruptcy. Fastow was one of the key figures behind the complex web of off-balance ...
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. Before its bankruptcy on December 2, 2001, Enron employed approximately 20,600 staff and was a major ...
Jeffrey Keith Skilling (born November 25, 1953) is an American businessman who in 2006 was convicted of federal felony charges relating the Enron scandal. Skilling, who was CEO of Enron during the company's collapse, was eventually sentenced to 24 years in prison, of which he served 12 after multiple appeals. Skilling was indicted on 35 counts ...
The Enron scandal may be over 20 years old, but watching how the whole thing went down in the documentary “Enron: The Smartest Guys in the Room” remains as fascinating as ever.
Synopsis. Conspiracy of Fools tells the story of the 2001 collapse of Enron. Enron's Chief Financial Officer (CFO) Andrew Fastow is depicted as voraciously greedy, using front corporations and partnerships, paying himself "management" and "consultant" fees as if he were an outsider, all while cooking Enron's books to show fictitious profits.
Now one of the best-known examples of corporate fraud, greed and corruption, Enron lost its shareholders their retirement accounts, their jobs and $74 billion. %VIRTUAL-article-sponsoredlinks% 7 ...