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The Enron Scandal Essay

1114 words - 5 pages

The Enron scandal was mostly all about how these people that was supposed to be the smartest people in the world that made a stock company increase in so much money by lying and stealing money from customers. The company used so many ways to get their stocks up high and try to keep them there. They tried far beyond what they could happen and the company failed and collapsed at the end when Jeff skilling resigned as CEO and president of Enron.
The former CEO of Enron was born on November 25,1953 in the town of pittsburgh pennsylvania. Jeff skilling graduated from harvard and southern methodist university earning his b.s. in applied science and M.B.A which he earned at the university of ...view middle of the document...

As this idea was working it lead to him becoming the CEO of Enron making Kenneth Lay being replaced by Jeff skilling due to also how much money the company was making under Jeff Skilling’s idea of investment. This lead to them the company and Jeff Skilling having the ability to gain a house of cards that will soon fall in the future. The company had a crisis when california lost electricity and Enron trying to find a way to figure out to get people to use their electricity which will be better than that of california which Enron owned a part of. When this crisis happened, Jeff Skilling resigned as CEO and President of Enron and sold $60 million in Enron’s share and just a few months later was when the company declared that they were bankrupt. This was when the company collapsed and most of their employees lost life savings and jobs and also investors lost thousands of dollars to this company but it all ended due to Jeff Skilling at the end.
The former CEO and president of Enron's Jeff Skilling, was charged of multiple federal felony, securities fraud and also making false statement to auditors or interviewers. This lead to him being fined $45 million and to know he is serving a 24 year with 4 months of prison due to the scandal. As for the company, it collapsed and lead to employees not having anymore jobs. Some lost life savings to the company and investors lost thousands of dollars to this scandal company. The company lost the most out of anything while Jeff Skilling did not as much and will soon be sentence to jail on the year of 2006 due to the things he did to the company that made it collapsed.
Jeff Skilling today is serving prison time to all the things he has done to the company that made it collapsed, he started his jail time in the year of 2006 at the federal correctional institute in Waseca, Minnesota where he is serving 24 years of jail. Recently they say that his time of jail has been lowered...

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