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 August 2001: Crisis revealed
 Jeff Skilling quits and an insider gets suspicious

Increasingly worried, Sherron Watkins decided to go outside of Enron's Houston headquarters for help.

She aired her concerns to James Hecker, a former colleague and audit partner at Andersen.

Recognising her concern, he contacted the Enron audit team at the company.

After reading Ms Watkins' concerns, Andersen executives including chief Enron auditor David Duncan, decided to consult lawyers over whether or not the partnerships were legal.

Back at Enron headquarters, Ms Watkins met with Kenneth Lay where she fleshed out the anonymous letter. Following the meeting, Mr Lay ordered Enron's lawyers to conduct an investigation into the partnerships.

In the weeks that followed, Ms Watkins went back twice to Mr Lay to reinforce her fears that the company could collapse.

Publicly though, Mr Lay was also moving to reassure the markets. He was doing all he could to "restore investor confidence" he told staff and shareholders.

But amid the selling, Mr Lay himself joined the crowd as he exercised options on 83,000 shares worth almost $2m.

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

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