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Enron logo. The Enron scandal was an accounting scandal sparked by American energy company Enron Corporation filing for bankruptcy after news of widespread internal fraud became public in October 2001, which led to the dissolution of its accounting firm, Arthur Andersen, previously one of the five largest in the world.
Arthur Andersen LLP v. United States, 544 U.S. 696 (2005), was a United States Supreme Court case in which the Court unanimously overturned accounting firm Arthur Andersen's conviction of obstruction of justice in the fraudulent activities and subsequent collapse of Enron.
At the end of 2001, it was revealed that Enron's reported financial condition was sustained by an institutionalized, systematic, and creatively planned accounting fraud, known since as the Enron scandal. Enron became synonymous with willful, institutional fraud and systemic corruption.
Andersen Consulting was once one of the top names in professional services. The firm rebranded to Accenture in 2000, and its parent company went bust following the Enron scandal.
The fallout from Enron's collapse continued to spread for months after the former energy conglomerate declared bankruptcy. One of the final Enron-caused implosions of collateral damage hit.
displaced by Colwell, "not capable of making aggressive accounting decisions" U.S. District Judge Sim Lake did not allow prosecutors to get into details about the transaction – year-end 1999 electricity trading deal with Merrill Lynch – that prompted J. Clifford Baxter (Enron's single suicide) to displace Curry for Colwell; Timothy Belden
The energy company, defined by its angled “E” logo, was first exposed by Fortune’s Bethany McLean for its opaque accounting practices. The Enron scandal was later determined to be “one of ...
Kenneth Lee Lay (April 15, 1942 – July 5, 2006) was an American businessman and political donor who was the founder, chief executive officer and chairman of Enron.He was heavily involved in Enron's accounting scandal that unraveled in 2001 into the largest bankruptcy ever to that date.