The Enron Scandal: How the Biggest Corporate Fraud in History Actually Worked
For six consecutive years Fortune magazine named Enron America’s Most Innovative Company. Its stock price soared. Its executives were celebrated as visionaries. Its revenue appeared to reach $111 billion. Then in October 2001 the whole thing collapsed in sixteen days, taking 20,000 jobs, $74 billion in shareholder value, and the life savings of thousands of employees with it. Here is exactly how one of the most sophisticated frauds in corporate history actually worked.