Replies to post #8721 on YaSheng Group (HERB)

[surfer44]

Indeed.

Enron Executives: What Happened, and Where Are They Now?

By BRIAN DOLAN Published December 19, 2022
Fact checked by VIKKI VELASQUEZ

What Happened?

Two decades before the sudden and dramatic collapse of cryptocurrency exchange FTX in November 2022, Enron was a Houston-based energy company that imploded as a result of various fraudulent accounting practices. The fraud came to light in October 2001, following a whistleblower letter from then-Enron Vice President Sherron Watkins to Chairman Ken Lay in August 2001. For years, Enron had used complicated off-balance sheet entities and special purpose vehicles to hide billions of dollars in losses from failed deals and projects.

As news of the fraud leaked out, Enron’s stock price fell to less than $1 at the time of its bankruptcy filing in December 2001 (see image below) from a onetime high of more than $90.