The main parties responsible for the corporate fraud in Enron and its eventual bankruptcy are the management of the company, external auditors, regulators and accounting standard setting bodies. The management of the company was intentionally involved in fraudulent activities such as intentional inflation of net income and cash flows on company financial statements and concealing large amounts of debt through special purpose entities and using them as financing vehicles.
As a result of these actions the company saw phenomenal growth in the period of 1990 to 2001 and the share price of the company had risen to almost $83 in 2001 and the market capitalization was estimated at $60 billion. As a result of this significant increase in share prices the top executives of the company benefited quite heavily from stock options exercised by the company.
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