Enron

  

Definition

Former energy corporation that is considered the staple example for corporate corruption and accounting fraud. In 2001 it was uncovered that the company had position itself as a leader in the industry by falsifying accounting records company wide. The company filed for bankruptcy after the revelation and as of 2007 has sold the majority of its remaining assets. A number of company executives were also forced to pay stiff fines for their involvement in the accounting scheme.

Use Enron in a sentence

  • I would never work for Enron, or any huge corporation like that because I was a simple farm man and didn't want anything to with big business.

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  • You want to make sure that your corporation is legit and doing things the right way so you don't end up like enron.

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  • Enron was an example of a company who perfected the guise of off balance sheet accounting, they showed what not to do.

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