What ever happened to Enron?

Answer 1

After the scandal they were bought out for 9 billion.

Answer 2

Enron is the latest example How the Great have fallen. When a great one falls the fall in the deepest. Even the highest of them -the President was found to be guilty of financial frauds and sentensed to the longest term of incarnaration. The company went bankrupt.

While companies and companies go insolvent the going down of Enron has set back India's programme of free enterprise by at least a decade. Even when it came here there were dark suggestions of capitalist financial frauds. But once it got going it really rose high hope brining in power self-sufficiency by private participation in India. But its going down the way of many capital enterprises has only underwritten the communist fears of private enterprises and consequently prolonged the life of loss-making public power enterprises.Whereas the communists take care to ensure that it does not come in disrepute on theory capitalism like Enron shows have no such compuctions.

Answer 3

Enron Corporation was an American energy company based in Houston, Texas. Before its bankruptcy in late 2001, Enron employed around 21,000 people (McLean & Elkind, 2003) and was one of the world's leading electricity, natural gas, pulp and paper, and communications companies, with claimed revenues of $111 billion in 2000. Fortune named Enron "America's Most Innovative Company" for six consecutive years. It achieved infamy at the end of 2001, when it was revealed that its reported financial condition was sustained mostly by institutionalized, systematic, and creatively planned accounting fraud.

The lawsuit against Enron's directors, following the scandal, was notable in that the directors settled the suit by paying very significant amounts of money personally. In addition, the scandal caused the dissolution of the Arthur Andersen accounting firm, which had effects on the wider business world, as described in more detail below.

Enron still exists as an asset-less shell corporation. Enron emerged from bankruptcy in November of 2004 after one of the biggest and most complex bankruptcy cases in U.S. history. It has since become a popular symbol of willful corporate fraud and corruption. On September 7, 2006, Enron sold Prisma Energy International Inc., its formerly sole remaining business, to Ashmore Energy International Ltd. Enron will likely be dissolved shortly after the sale.

Answer 4

HOUSTON, April 21 -- Two former Merrill Lynch & Co. executives convicted in Enron's bogus sale of power barges to the brokerage were sentenced Thursday to prison terms far shorter than the punishment sought by the government.

James A. Brown, former head of the brokerage's asset lease group, was sentenced to three years and 10 months in prison and a year's probation. Daniel H. Bayly, former head of investment banking for Merrill Lynch, was sentenced to 2 1/2 years' incarceration and six months' probation. Each was ordered to pay $840,000 in fines and restitution. Both men live in Darien, Conn.

Federal probation officers had recommended up to 15 years for Bayly and up to 33 for Brown. Their case illustrated Wall Street participation in Enron crimes through the brokerage's choice to take part in a sham deal to make a client happy.

U.S. District Judge Ewing Werlein, who sentenced the men, criticized the pursuit of sentences longer than the maximum 10-year sentence that awaits former Enron finance chief Andrew S. Fastow, who ran bogus schemes that rotted Enron.

"The defendant is correct to observe that this would be a harsh and irrational result," Werlein said of the recommended term for Brown. Both men made statements before their separate sentencings. "Since I was indicted, I have been branded a liar and a criminal; I could no longer make a living in my chosen profession," Brown said. "This whole experience has been devastating to me," Bayly said.

Fastow had faced 98 counts including fraud, conspiracy, insider trading and money laundering. Last year, he pleaded guilty to two counts of conspiracy for hiding Enron debt and inflating profits while pocketing millions for himself.

Werlein said the term awaiting Fastow and the five years former Enron treasurer Ben F. Glisan Jr. is serving "established some benchmarks" for the defendants in the barge case. The judge said the Merrill defendants faced "unjustified disparate sentences" in comparison.

Bayly and Brown were convicted of one count of conspiracy and two counts of fraud. Brown also was convicted of perjury and obstruction for lying to a grand jury about whether he knew Enron had promised to resell or buy back the barges within six months of the late 1999 deal, which meant the purported sale was really a loan. Fastow confirmed that promise. The judge said the barge deal was "rather small and relatively benign in the constellation of the Enron frauds."

"Our position is there is no benign fraud when it comes to playing God with the reported earnings of publicly traded companies," prosecutor Matt Friedrich said.

"That a person who served as a leader in the investment banking world goes to prison at all serves a deterrent effect," Werlein said.

Answer 5

Enron still exists and operates - more or less.

It is in bankruptcy, and will eventually liquidate. It is currently operating to pay off its creditors, as best it can, and to maintain assets that can be sold.

http://www.enron.com/corp/

Answer 6

They went down! Even the sign got auctioned off, cause' they made people think their stock was worth more than it really was.

And ya can't do that! It's against the law.

Answer 7

Went belly up, it still exists in title, but has no assets.

Answer 8

they went bankrupt. they where over stating their income statements by billions of dollars and got caught.