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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", Andy Fastow to buy poorly performing Enron stock.In reality, LJM was used to hide debt and inflate profits for enron in order to boost it's 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. |
LJM which stands for Leah, Jeffery, Michael (Andy Fastow's wife and children) was a company created by Enron's "financial wizard", Andy Fastow to buy poorly performing Enron stock.In reality, LJM was used to hide debt and inflate profits for enron in order to boost it's 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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Revision as of 02:29, 4 February 2007
LJM which stands for Leah, Jeffery, Michael (Andy Fastow's wife and children) was a company created by Enron's "financial wizard", Andy Fastow to buy poorly performing Enron stock.In reality, LJM was used to hide debt and inflate profits for enron in order to boost it's 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.