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How Share-Price Fixation Killed Enron

Harvard Business Review

Despite its infamous financial chicanery, it still appeared to be a viable, profitable firm. At the annual conference of the Association of Certified Fraud Examiners late last month, former Enron Chief Financial Officer Andrew Fastow, who served six years in prison for his part in Enron''s deceptions, offered an explanation. But after hearing Fastow speak twice to my Financial Statement Accounting class and reviewing independent evidence, I think I have good idea.