Enron accounting scandal and corporate collapse

Enron Corporation, long headquartered in downtown Houston, declared bankruptcy in December 2001 after revelations of widespread accounting fraud and off‑balance‑sheet entities. Top executives including CEO Jeffrey Skilling were criminally convicted for roles in the fraud; chairman Kenneth Lay was convicted but died before sentencing. The collapse propelled national regulatory reforms such as the Sarbanes‑Oxley Act and remains a defining example of corporate white‑collar crime in Houston's business history.