Week 2 – Accounting Fraud Scandal.docx

Week 2 – Accounting Fraud Scandal.docx - Week 2 –...

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Week 2 – Accounting Fraud Scandal Enron Scandal (2001) Company: Houston-based commodities, energy and service corporation What happened: Shareholders lost $74 billion, thousands of employees and investors lost their retirement accounts, and many employees lost their jobs. Main players: CEO Jeff Skilling and former CEO Ken Lay. How they did it: Kept huge debts off balance sheets. How they got caught: Turned in by internal whistleblower Sherron Watkins; high stock
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  • Winter '15
  • Enron scandal

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