Enron

Perhaps my words will be inadequate to describe the Enron disaster, but here goes: Enron was a Houston-based energy company that went from being dubbed "America's Most Innovative Company" more than once by Fortune to flaming out in a 2001 bankruptcy wrapped up in accounting fraud, criminal charges, and the destruction of employee investments and retirement savings.

Expanded Definition

The company

The players

• Ken Lay: Former Enron CEO and chairman; convicted on fraud-related counts in 2006; died in 2006 before his sentencing.

• Jeffrey Skilling: Enron CEO in 2001; convicted on fraud-related charges in 2006; serving a 24-year sentence. Skilling most recently appealed his conviction in January 2009.

The downfall

The fallout

Related Fool Articles

• Meet the Men Who Fleeced Enron
• Enron as Icarus
• Lessons From the Enron Debacle
• Enron Testimony

Related Terms

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