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ENRON Definition & Legal Meaning

Definition & Citations:

Held up as the way to NOT run a company. Former energy corporation rampant with corporate corruption and accounting fraud. The company positioned itself as a leader in the industry by falsifying accounting records company wide. In 2001 all was uncovered. By 2007, sold the majority of its remaining assets following the filing for bankruptcy following the revelation. For their involvement in the accounting scheme, many company executives paid very stiff fines, and some additionally went to jail .


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