Register to read the introduction…
Enron’s ethics code also specified that “An employee shall not conduct himself or herself in a manner which directly or indirectly would be detrimental to the best interests of the Company or in a manner which would bring to the employee financial gain separately derived as a direct consequence of his or her employment with the
…show more content…
The full extent and explanation of Enron’s ethical collapse is yet to be determined as legal proceedings continue. Fourteen other Enron employees—many high level—have pled guilty to various charges; 12 of these are awaiting sentencing, while the other two, one of whom is Andrew Fastow’s spouse, have received prison sentences of at least one year. Juries have convicted five individuals of fraud, as well as Arthur Andersen, the accounting firm hired by Enron that shared responsibility for the company’s fraudulent accounting statements. Three of the convicted individuals were Merrill Lynch employees involved in the Nigerian barge deal with Fastow. Ken Lay and Jeff Skilling, along with Richard Causey, Enron’s former chief accounting officer, are awaiting trial. Lay faces 11 criminal counts, Skilling faces 35 criminal counts, and Causey faces 31 criminal counts. Five executives from Enron’s broadband division are also awaiting trial. Three bank executives from Britain who had been involved in a complicated series of deals in a Fastow partnership are fighting extradition. In addition, there are 114 unindicted co-conspirators in the federal government’s case against Lay and
The full extent and explanation of Enron’s ethical collapse is yet to be determined as legal proceedings continue. Fourteen other Enron employees—many high level—have pled guilty to various charges; 12 of these are awaiting sentencing, while the other two, one of whom is Andrew Fastow’s spouse, have received prison sentences of at least one year. Juries have convicted five individuals of fraud, as well as Arthur Andersen, the accounting firm hired by Enron that shared responsibility for the company’s fraudulent accounting statements. Three of the convicted individuals were Merrill Lynch employees involved in the Nigerian barge deal with Fastow. Ken Lay and Jeff Skilling, along with Richard Causey, Enron’s former chief accounting officer, are awaiting trial. Lay faces 11 criminal counts, Skilling faces 35 criminal counts, and Causey faces 31 criminal counts. Five executives from Enron’s broadband division are also awaiting trial. Three bank executives from Britain who had been involved in a complicated series of deals in a Fastow partnership are fighting extradition. In addition, there are 114 unindicted co-conspirators in the federal government’s case against Lay and