Enron concealed losses and borrowing behind complex transactions with related parties, while presenting itself as a fast-growing energy trader. Public questions about its accounts in March 2001 were followed by senior departures, a sharp share-price fall and accounting disclosures in October and November. It filed for Chapter 11 bankruptcy protection on 2 December 2001. Subsequent investigations and criminal proceedings established fraud. The A&G Screen rates its FY00 financials High Risk, highlighting profit manipulation and debt window dressing.

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