CORPORATE COLLAPSE: Enron Corporation
In December 2001, Enron Corporation, once the seventh-largest company in the United States by revenue, filed for bankruptcy in Houston, Texas, erasing billions in shareholder value and the retirement savings of approximately 20,000 employees. The collapse followed years of fraudulent accounting through special purpose entities and mark-to-market manipulation, yet the full extent of those transactions and the exact personal profits extracted from the LJM partnerships were never fully established in court. The total number of entities created, the complete list of enabling financial…
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