Facts and Ethical Dilemmas at Enron. Law Assignment

Facts and Ethical Dilemmas at Enron
Author’s Name:
Institutional Affiliation:
Date:
Facts and Ethical Dilemmas at Enron
The scandal at Enron became apparent in October 2001 after it was disclosed that the then seventh largest company in the US was involved in the accounting fraud and corporate corruption. It was revealed that the energy company was involved in many scandals, which included misrepresentation in the earnings report, and the political implications because of the close links between the company and the White House (Segal, 2019). Other scandals included deregulation of the company hence, operated without the scrutiny of the American government, embezzlement by the corporation’s executives, and false energy crisis reports. These scandals led to the subsequent bankruptcy of the corporation as well as a retrenchment of Arthur Anderson. As a result, the shareholders registered a $70 billion loss, which led to Enron’s bankruptcy. On the other hand, Enron’s employees lost both their jobs and pension benefits, which were in billions of dollars (Segal, 2019). This n...