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Frauds And Visionaries - Bethany McLean

The Joe Walker Podcast

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Enron's Legal Fraud

In thinking about Enron, you coined this intriguing oxymoron, legal fraud. What I mean by legal fraud is that even though all of the transactions may have met the letter of accounting rules, they were done with the intent to deceive. The company's financial misstatements overall completely misrepresented economic reality. It was much harder to prosecute than people would have thought.

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