Episode 188 | Historical Events
In this History episode we focus on the Enron scandal — how Fortune's most innovative company for six consecutive years was built on mark-to-market accounting that booked future profits as present income, special purpose entities that hid losses off the balance sheet, an auditor earning $52 million a year not to notice, and the collapse that destroyed thousands of jobs and $2 billion in employee pensions.
Ken Lay died before he could be sentenced. Jeffrey Skilling served 12 years. The employees lost their pensions.
#HistoryMystery #Enron #CorporateFraud #History #AmericanHistory
