Encyclopedia of Investment Terminology

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Enron was one of the world’s largest energy companies. It employed over 20,000 people and declared revenues of over $100 billion in the year 2000.

In late 2001 it became public that Enron committed accounting fraud and filed for bankruptcy that same year.

The fraud, which would be known as the Enron Scandal prompted new legislation with the aim to prevent similar scandals from occurring in the future and in 2002 the Sarbanes-Oxley Act was passed.

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