Enron Scandal and Accounting Fraud: What Happened?

Before its demise, Enron was a large energy, commodities, and services company based in Houston, Texas. Its collapse affected over 20,000 employees and shook Wall Street. At Enron’s peak, its shares were worth $90.75. When it declared bankruptcy on Dec. 2, 2001, shares traded at $0.26. Key Takeaways Enron’s accounting method was revised from a…