5 entries
Enron's corporate accounting organization led by Chief Accounting Officer Rick Causey, responsible for financial reporting, controller functions, and the aggressive accounting practices at the center of the company's fraud and collapse.
Enron's foundational trading division that transformed the company from a pipeline operator into the world's largest energy trader, pioneering the Gas Bank concept, EnronOnline, and a performance culture that shaped both Enron's rise and its collapse.
The wholesale energy trading business that transformed Enron from a pipeline company into the world's largest energy trader, generating billions in profits through gas and power trading desks organized by geographic region and commodity.
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.
The accounting method that allowed Enron to book projected future profits immediately, championed by Jeff Skilling and approved by the SEC in 1992, which became a vehicle for manufacturing over $100 million in fraudulent earnings.