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 December 2001: Bankrupt
 Kenneth Lay's empire falls, leaving investors and employees stranded

12 - 18 December:
On 12 December, Joseph Berardino, Andersen's chief executive, went before the US House of Representatives Committee on Financial Services to defend his company's auditing of Enron.

Andersen would concede that it made one wrong decision relating to a special partnership - but it insisted that it was not party to fraud.

He also defended Andersen's fees of $52m and wider relationship with Enron, saying that the audit team had had a massive task to deal with, not least in looking at $100bn of sales in one year alone.

Six days later, Enron employees who had to all appearances lost everything, went before Congress to detail how they felt betrayed.

Click on the red dots on the graph for more detail.



 ENRON'S PENSION FUND
Membership: Approx 20,000 Enron employees; Scheme worth at least $1bn
Type of plan: 401(K) scheme. Allows employees to make own investment decisions
Enron's incentives: Enron matched employee contributions with stock; Individual pensions comprised approx 62% Enron stock.
Implications: Scheme value linked to stock price. Employees exposed to potentially volatile markets. High growth potential, but higher risks
What happened: Enron effectively barred employees from selling stock to avert share price collapse. Share price collapsed regardless. Pensions rendered largely worthless.
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