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Facts From 2001 - The Enron Scandal

An accounting scandal of epic proportions took place in 2001. The Enron Corporation was a USA energy company that was formed by Kenneth Lay in 1985 when InterNorth and Houston Gas merged. Lay later recruited Jeffrey Skilling who oversaw a system of "mark-to-market" pricing - a system whereby future profits from deals could be accounted for by es...

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