Can someone please explain the enron scandel to me?? without being to technical or would have obviously understood by now.
oh explain money laundering? thanks, im out of the loop!
2006-07-12 07:40:59 · 6 answers · asked by RagDoll 2 in Business & Finance ➔ Other - Business & Finance
A bunch of good ol' boys figured out a way to scam electric utility companies around the United States.
They faked power outages by saying there wasn't enough power available.
They hid cost over-runs on their accounting books.
They over-inflated the value of their company.
They got rich.
Then, they got caught.
In the end, lots of innocent Enron workers were left without jobs or retirement benefits, all because a few folks were greedy.
2006-07-12 07:44:37 · answer #1 · answered by docscholl 6 · 3⤊ 0⤋
Hi BlackBetty,
I think everyone else has answered your Enron question.
Money laundering is the metaphorical "cleaning of money" with regard to appearances in law, is the practice of engaging in specific financial transactions in order to conceal the identity, source and/or destination of money and is a main operation of underground economy.
~Trey
2006-07-12 07:51:42 · answer #2 · answered by ~Trey 3 · 0⤊ 0⤋
Rent Enron the Smartest Guys in the Room, its at Blockbuster.
2006-07-12 07:44:53 · answer #3 · answered by BMC 2 · 0⤊ 0⤋
In the simplest terms the people running the company lied and made it appear that the company was extremely profitable when in fact the company was going broke. The effect is that those executives got rich while basically stealing money from investors, employees, creditors, etc.
2006-07-12 07:46:02 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Go to Wikipedia.org. Search for Enron. All you want to know is right there.
2006-07-12 07:42:01 · answer #5 · answered by Cali Dude 4 · 0⤊ 0⤋
simply put, the executives of the company pretty much just pokceted some money.
2006-07-12 07:43:49 · answer #6 · answered by shaqmacgrady 3 · 0⤊ 0⤋