By: Allie Woodason
Company name and 5 bits of information:
American energy company based out of Houston, very big company, the CEO was Jeff Skilling.
Shareholders lost $74 billion, thousands of employees and investors lost their retirement accounts, and many employees lost their jobs.
The main players were CEO Jeff Skilling and former CEO Ken Lay.
Lay died before serving time; Skilling got 24 years in prison. The company filed for bankruptcy. Arthur Andersen was found guilty of fudging Enron's accounts.
How did they do it:
They kept huge debts off balance sheets.
How they got caught:
They were turned in by Sherron Watkins; high stock prices fueled external suspicions.
The former CEO died before serving time.
The Enron scandal is one of the most well known American accounting scandals.
Known as a white collar crime.