Enron reveals massive loss and accounting fraud
Citations (1)
- All the Presidents' Bankers: The Hidden Alliances That Drive American Power whole source · open book
On October 16, 2001, Enron posted a $681 million third-quarter loss and announced a $1.2 billion hit to shareholders equity, due to an imploding pyramid of fraudulent transactions.
chapter: Chapter 19: The 2000s: Multiple Crises, the New Big Six, and Global Catastrophe