Accounting rules required an independent investor in order for a hedge to work, but Enron used one of their SPEs. The deals were so complex that no one could really determine what was legal and what wasn't. Eventually, the house of cards began falling. When Enron's stock began to decline, the Raptors began to decline as well...
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Eventually, the house of cards began falling. When Enron's stock began to decline, the Raptors began to decline as well. On August 14, 2001, Enron's CEO, Jeff Skilling, resigned due to "family issues." This shocked both the industry and Enron employees. Enron chairman Ken Lay stepped in as CEO Enron: Discovering Fraud On August 15, Sherron Watkins, an Enron VP, wrote an anonymous letter to Ken Lay that suggested Skilling had left because
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Enron Scandal A number of top Enron executives have been charged with fraud. In addition to Enron employees, Arthur Anderson, LLP, the accounting firm responsible for auditing Enron, was convicted of obstruction of justice...	2 / 434
Enron justice Department on seventy-eight federal counts for his alleged efforts to inflate Enron?¦s profits. The charges included frauds, money laundering, conspiracy, and one count of obstruction of justice...	2 / 289
Enron Accounting rules required an independent investor in order for a hedge to work, but Enron used one of their SPEs. The deals were so complex that no one could really determine what was legal and what wasn't...	2 / 357
THE FALL OF ENRON There are indications that Enron executives and its accounting firm, Arthur Andersen, had warnings of problems nearly a year ago. According to an email sent February 6, 2001, Andersen considered dropping Enron as a client...	3 / 727