Enron

Enron was an American energy company that became infamous for its massive accounting fraud in the early 2000s. Initially valued for its innovative business practices and rapid growth, it used complex accounting tricks to hide debt and inflate profits. When the truth emerged in 2001, Enron filed for bankruptcy, leading to thousands of job losses and ruining many investors. The scandal prompted reforms in corporate governance and accounting practices, including the Sarbanes-Oxley Act, which aimed to enhance transparency and protect investors from similar fraudulent activities in the future. Enron is often seen as a cautionary tale about corporate greed and ethical responsibility.