What's the short version of what happened with Enron?

Question

What's the short version of what happened with Enron?

Answer 1

After a series of revelations involving irregular accounting procedures bordering on fraud, perpetrated throughout the 1990s, it left Enron on the verge of undergoing the largest bankruptcy in history by mid-November 2001.

Answer 2

The board members took all the money and the rest of the people got the shaft.

Answer 3

George Walker Bush got involved and things went South.

Answer 4

They stole all the money from the shareholders by fraudulently making the books and the stock value look like it the company was on  a way way track up when in reality it wasn't. The greedy officers cashed out with shareholder money and bailed.

Answer 5

Accounting fraud in the highest levels of the company’s management, even when the company was being investigated they encouraged workers not to dump their stock, costing them everything.  Enron showed the world the importance of honest accounting practices.

Answer 6

Cooked books.

Answer 7

Strange accounting practice that over inflated numbers and the stock price. When they had to change their accounting practice the big wigs sold off their stock. All of the employees were paid their 401K  match in stock instead of in actual money. When the stock price sank after the accounting issues were discovered, everyone lost everything. They couldn't recover.

Answer 8

they committed an accounting fraud

Answer 9

They basically misstated the profits they earned to boost the price of their stock and make the company and the bosses billions.  When the cash ran out, they decided to try to clean up the balance sheet and file bankruptcy.  Banks and other establishments that lent them credit, along with the employees retirement funds, took a big hit as there was no more money in the company.