LJM (company): Difference between revisions
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LJM which stands for Leah, Jeffery, Michael (Andy Fastow's wife and children) was a company created by [[Enron]] 's "financial wizard", [[Andrew Fastow]] to buy poorly performing Enron stock. In reality, LJM was used to hide debt and inflate profits for |
LJM which stands for Leah, Jeffery, Michael (Andy Fastow's wife and children) was a company created by [[Enron]] 's "financial wizard", [[Andrew Fastow]] to buy poorly performing Enron stock. In reality, LJM was used to hide debt and inflate profits for Enron in order to boost its stock price. It is also believed that the creation was the beginning of the complex and questionable accounting practices that lead to Enron's demise. |
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== References== |
== References== |
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[http://www.enronfraudifocenter.com Enron Fraud Info Center] |
[http://www.enronfraudifocenter.com Enron Fraud Info Center] |
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Revision as of 15:15, 5 February 2007
LJM which stands for Leah, Jeffery, Michael (Andy Fastow's wife and children) was a company created by Enron 's "financial wizard", Andrew Fastow to buy poorly performing Enron stock. In reality, LJM was used to hide debt and inflate profits for Enron in order to boost its stock price. It is also believed that the creation was the beginning of the complex and questionable accounting practices that lead to Enron's demise.
References
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