Description
Pick a White Collar Crime - (Could be Government, Corporation or Individual) and write 4 pages-essay( essay format ) to answer these questions
1)Describe the crime, who the individuals were that were involved in the crime, how it was eventually caught and/or what led it to be caught
2) What were the red flags the accountants/investigators/regulators missed.
3)What was the impact to society as a result of the crime. Who suffered and what was their recourse
4)In your opinion, describe what regulations could have been changed, what could have been done to prevent this crime and what could be done to prevent this crime in the future.
Explanation & Answer
hey there, i have posted the answers kindly confirm and contact me if you have any questions, thank you.
Running head: ENRON CORPORATE CRIME
Enron Corporate Crime
Name
Institution
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ENRON CORPORATE CRIME
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Enron Corporate Crime
Crime Description
The Enron scandal is one of the major white collar crimes in the US history. Enron
company was a very successful corporation before the discovery of a world-class scandal. Their
headquarters were located in Houston, with forty branches all over the world. Enron had
employed over 21,000 individuals and served numerous shareholders and investors (Amara,
2007). The main criminal charges were fraud due to business operations based on fake holdings
and payments without official records. Enron started as an energy merchant and supplier. The
executives created a transaction website which attracted many partners and stakeholders through
trade credits and the impression of an expanding energy enterprise. Later, it was alleged that
Enron`s CEO, Jeffrey Skilling was hiding major monetary losses of the seamlessly successful
business operations. Experts in business fraud claimed that the company`s executives would
develop major energy assets such as power generating plants and instantly term it as a high profit
operation (McLean & Elkind, 2013). The senior accountants would use an off-the-book
accounting system where major asset losses would go unreported. Investigators proved that
Enron looked far much profitable than it appeared, although it was running under rampant
financial losses.
The major culprits of the business fraud were the CEO; Jeffrey Skilling, Kenneth Lay
who created Enron, the chief financial officer; Andrew F...
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