American Corporate Fraud

This new century began with great expectations. However, just as the door of the 21st century opened, September 11th shocked the world and bruised the economy. Then, followed the bankruptcy and corporate scandals of some of America's major corporations. One such Fortune 500 company that fell at the new century's threshold was Enron, one of the world's leading energy companies. Once hailed as the most promising corporation in the United States, Enron is now in bankruptcy and under federal investigation for fraudulent accounting practices. The depths of its unethical practices and the aftermath of its collapse are still unfolding day by day.

Founded in 1985, Enron began as an energy company, shipping natural gas through pipelines. In 1989, Enron expanded into the natural gas commodities market, basically betting on future gas prices. By 1994, Enron was trading electricity contracts, eventually becoming the largest electricity trader in the...
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