Enron Scam Details

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  • Topic: Enron, Kenneth Lay, Jeffrey Skilling
  • Pages : 3 (727 words )
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  • Published : June 23, 2012
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am detailThe ENRON Scandal is considered to be one of the most notorious within American history-White Collar  By misrepresenting earnings reports while continuing to enjoy the revenue provided by the investors not privy to the true financial condition of ENRON, the executives of ENRON embezzled funds funneling in from investments while reporting fraudulent earnings to those investors; this not only proliferated more investments from current stockholders, but also attracted new investors desiring the enjoy the apparent financial gains enjoyed by the ENRON corporation.

ENRON Scandal Summary: Embezzlement
An ENRON Scandal Summary of the acts of Embezzlementundertaken by ENRON Executives may be defined as the criminal activity involving the unlawful and unethical attainment of monies and funding by employees; typically, funds that are embezzled are intended for company use in lieu of personal use. While the ENRON executives were pocketing the investment funds from unsuspecting investors, those funds were being stolen from the company, which resulted in the bankruptcy of the company. ENRON Scandal Summary: Losses and Consequences

Due to the actions of the ENRON executives, the ENRON Company went bankrupt. The loss sustained by investors exceeded $70 billion. Furthermore, these actions cost both trustees and employees upwards of $2 billion; this total is considered to be a result of misappropriated investments, pension funds, stock options, and savings plans – as a result of the government regulation and the limited liability status of the ENRON Corporation, only a small amount of the money lost was ever returned.

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Enron Scandal Summary
By: Alan Rankin
Break Studios Contributing Writer
An Enron scandal summary would sound much like the descriptions of other high-profile business scandals, except that the Enron executives were actually punished for their misdeeds. Enron was a business conglomerate and Wall Street darling during the 1990s, created by...
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