The Fall Of Enron

Title: Enron Fraud
Introduction
(1) History of Enron
a) Companies that allowed Enron to hide debt

Body
Investigation of Enron

Conclusion

Enron Fraud
It was star of the largest securities fraud scandals in history, and the investigation into the extent of the fraud affiliated by Enron is still ongoing. As a result, Enron was forced to charge for bankruptcy in December 2001.
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History of Enron
Enron is an vim company based in Houston, Texas that deals with the energy trade on an international and domestic basis. It was create in 1985 when Houston Natural Gas merged with InterNorth. After several years of international and domestic expansion involving complicated deals and hcontracts, Enron was billions of dollars into debt. All of this debt was hide from shareholders through partnerships with other companies, fraudulent accounting, and illegal loans. Listed below are a few of the partnerships that allowed Enron to hide debt:
RADR
A group of entities on the Q.T. funded by Enron that purchased electricity-generating windmills from Enron, then later sold them back with well-nigh of the profits going to key Enron officials and their families.




Chewco
A company formed by executives of Enron in order to buy out the shares of atomic number 20 Public Employees Retirement System (CalPERS) in a sum venture investment partnership known as JEDI. Chewco bought out CalPERS interest in order to retain JEDIs off-balance-sheet status. However, Chewco did non meet the requirements for accounting rules and claimed profits that it was not entitled to. In addition, when Enron bought out Chewcos interest, Chewcos price was driven up, reaping great benefits for the original investors (Enron execs).
Southampton
Enron bought the shares of National Westminster Bank (NatWest) in a express mail partnership with Credit Suisse First Boston. Enron paid $20 million, besides only $1 million went to NatWest....If you want to get a full essay, order it on our website: Ordercustompaper.com



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