$74.00B
Involved
Enron Scandal
🇺🇸
United States
accounting fraud
Convicted
Date Discovered
October 16, 2001
Organization
Enron Corporation
Victims
20,000
Perpetrators
Kenneth Lay, Jeffrey Skilling, Andrew Fastow
Legal Outcome
Multiple executives convicted. Skilling: 24 years (reduced to 14), Fastow: 6 years. Lay died before sentencing.
Economic Impact
Largest bankruptcy in US history at the time. $74 billion in market value destroyed. Arthur Andersen dissolved.
Regulatory Changes
Sarbanes-Oxley Act of 2002 enacted to improve corporate governance and financial disclosures.