ENRON | CLAIMING PROJECTED ENERGY PROFITS WERE REAL PROFITS
Enron is the perfect example of the Wall Street sweetheart reaching dramatic heights and collapsing even more dramatically.
The Enron Corporation, based in Houston, Texas, was once the sixth-largest energy trading company in the world. Its demise started in 2001, when the Securities and Exchange Commission (SEC) started investigating the company’s transaction after Enron announced a third-quarter loss of $618 million. That was the trigger for what many consider the largest, most complicated accounting scandal in history.
