4 entries
The renamed successor to Enron Capital & Trade Resources, Enron North America operated from September 1999 to early 2001 as Enron's largest and most profitable wholesale energy trading operation, generating billions in revenue while concealing over $1 billion in accounting fraud through hidden reserve accounts.
A 20-year video-on-demand deal between Enron Broadband Services and Blockbuster that lasted eight months, generated virtually no revenue, and produced $111 million in fraudulent profits through mark-to-market accounting and a structured finance vehicle called Project Braveheart.
A fraudulent year-end 1999 transaction between Enron and Merrill Lynch involving Nigerian power barges that resulted in criminal prosecutions and landmark appeals.
Vice President of Corporate Development at Enron who warned CEO Ken Lay of accounting fraud in August 2001 and became known as the 'Enron Whistleblower.'