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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, leading to its accounting firm, Arthur Andersen, then one of the five largest in the world, dissolving.
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.
Arthur Andersen LLP was an American accounting firm based in Chicago that provided auditing, tax advising, consulting and other professional services to large corporations. By 2001, it had become one of the world's largest multinational corporations and was one of the "Big Five" accounting firms (along with Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers).
However, Fastow has a vested financial stake in these ventures and uses them to defraud Enron of tens of millions of dollars in business deals that he effectively conducts with himself. All of this is done with the permission of Enron's accounting firm Arthur Andersen and Enron's corporate board. Most of these deals were leveraged with Enron ...
When energy-trading company Enron declared bankruptcy in 2001, it was the largest bankruptcy filing in U.S. history. The company's demise was tinged with scandal, as it was revealed that Enron ...
Then there's the fact that Enron's demise led to the downfall of its accountants, Arthur Andersen. This time around, Lehman's fall has battered the reputation of Ernst & Young, which has been ...
Nancy Temple, second from the left, testifies with other Arthur Andersen witnesses on January 24, 2002. Nancy Anne Temple is an attorney specializing in accounting liability . She was the in-house attorney for Arthur Andersen , who advised Michael Odom and David B. Duncan about Arthur Andersen policies regarding retention of documents from ...
An elaborate parody appears to be behind an effort to resurrect Enron, the Houston-based energy company that exemplified the worst in American corporate fraud and greed after it went bankrupt in 2001.