Sherron Wilkinson Enron Fraud Case
Enron is a company that buys and sales energy from different companies and according to Patrick Rogers, was worth $74 billion in 2001, and was developed by Kenneth Lay and Jeffrey Skilling in 1985. Enron would be a successful company for years, until Sherron Watkins blew the whistle on them. According to Pamela Colloff, Watkins discovered the fraud in 2001 while merely doing her assigned job. Watkins was doing …show more content…
According to Christopher O’Leary the Securities and Exchange Commission began a full investigation on Enron on October 22. There were multiple rival energy companies offering to purchase Enron for large amounts of money, however these offers were not on the table very long. None of these companies were willing to take on all of the baggage which would come with the purchase of Enron. O’Leary says on December 2 Enron filed for Chapter eleven bankruptcy. Soon to follow the filing of bankruptcy Lay put in his notice of resignation.
According to Shaheen Pasha and Jessica Seid, Jeffrey Skilling and Kenneth Lay were found guilty in the court case of The United States vs. Enron Corporation on counts of conspiracy and fraud. Skilling was found guilty on nineteen counts of conspiracy, fraud, false statements, and insider trading. Lay was found guilty on six counts of conspiracy and fraud (Pasha, Seid). Legal experts expect the two to face up to twenty to thirty years in federal