8 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 Chief Financial Officer who architected the off-balance-sheet fraud that destroyed the company, personally enriching himself by more than $30 million before pleading guilty and receiving a six-year prison sentence.
A special purpose entity created in 1997 to purchase CalPERS' stake in JEDI, whose accounting violations triggered Enron's $600 million restatement and precipitated the company's collapse.
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 joint venture between Enron and CalPERS that spawned Chewco Investments, whose accounting failures triggered a $600 million restatement and accelerated Enron's collapse.
Off-balance-sheet partnerships created and managed by Enron CFO Andrew Fastow that became central to the company's accounting fraud.
A series of four special purpose entities that used circular hedging with Enron's own stock, ultimately contributing $710 million in losses and precipitating the company's collapse.
A comprehensive examination of the off-balance-sheet financing vehicles that enabled Enron to hide billions in debt and manipulate its financial statements, ultimately precipitating the company's collapse.