Enron Scandal

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.

What happened?

Shareholders lost $74 billion, thousands of employees and investors lost their retirement accounts, and many employees lost their jobs.

Main players:

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.

3 facts:

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.