![]() ![]() The Enron scandal eventually led to the bankruptcy of the company, and Enron shareholders lost $74 billion leading up to its bankruptcy, and Enron's employees lost their jobs and billions of dollars in pension benefits.Įnron CEO Jeff Skilling was sentenced to 24 years in prison, former CEO Kenneth Lay died from a massive heart attack before serving time. There was also misrepresentation in earnings reports, a fraudulent 'energy crisis' and embezzlement by Enron Executives. The Deregulation of Enron allowed the corporation to operate largely free from US government scrutiny. The scandal surrounding the Enron energy company had political implications due to Enron's close links with the White House. The Enron Scandal surfaced in October 2001 when it was revealed that America's seventh largest company was involved in corporate corruption and accounting fraud. he was living the so called American Dream). He would use the Enron corporate jet for personal commuting.Īnd he would charge several hundred dollars worth of lunches for himself and friends to the corporate expense account (i.e. Pai symbolised the legendary lavishness and excesses of Enron's corporate culture.Įven though he was married, he would spend inordinate amounts of time during and after working hours at the strip club. ![]()
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