An important case study/ test case for the disciples of Finance/Business/Economics as well as psychology to learn from the rise and fall of business ventures. Business do not groom overnight. It requires a lot of potential, hard work, determination and dedication to achieve a position. 

P.S. As a part of student learning series, this story is being publishing for your information and learning. The KeterOnline does not have any legal/moral evidence regarding truth or confidence about the story. All the below information is collected from libraries, books, internet and case studies. Hope you will enjoy the series. 

Part 2/4

Before discussing to the downfall of Enron, a glance of the Key employees of Enron:

Name	Post
Kenneth Lay	Founder, Chairman and CEO (1985-2000)
Jeffrey Skilling	former President, COO, and CEO (February–August 2001)
Andrew Fastow	(former CFO)
Rebecca Mark-Jusbasche	(former Vice Chairman, Chairman and CEO of Enron International)
Stephen F. Cooper	(Interim CEO and CRO)

The Collapse of Enron:

Enron filed for bankruptcy on December 2, 2001. The several attempts taken by Enron to hide its assets and its financial losses are (some of them were highlighted im media and man. The several attempts taken by Enron to hide its assets and its financial losses are (some of them were highlighted in media and many of them were hiding from it)

First attempt

During the summer of 2001, Enron made an attempt to sell a number of Enron International's assets, many of which were not sold. The public and media believed it was unknown why Enron wanted to sell these assets, suspecting it was because Enron was in need of cash.

Accounting Practice fraud:

Enron used a variety of deceptive, bewildering, and fraudulent accounting practices and tactics to cover its fraud in reporting Enron's financial information. Special Purpose Entities were created to mask significant liabilities from Enron's financial statements. These entities made Enron seem more profitable than it actually was, and created a dangerous spiral in which, each quarter, corporate officers would have to perform more and more financial deception to create the illusion of billions of dollars in profit while the company was actually losing money. This increase the stock prices of Enron while nothing was backing this price.

During 2001, after a series of revelations involving irregular accounting procedures bordering on fraud perpetrated throughout the 1990s involving Enron and its accounting company Arthur Andersen, Enron suffered the largest bankruptcy in history.

As the scandal progressed, Enron share prices decreased from US $90.56 during the summer of 2000, to just pennies.

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