{"id":88,"date":"2006-02-28T06:15:44","date_gmt":"2006-02-28T12:15:44","guid":{"rendered":"http:\/\/www.sequence-inc.com\/fraudfiles\/?p=88"},"modified":"2012-07-10T08:56:31","modified_gmt":"2012-07-10T13:56:31","slug":"enron-raided-reserves-to-boost-earnings","status":"publish","type":"post","link":"https:\/\/www.sequenceinc.com\/fraudfiles\/enron-raided-reserves-to-boost-earnings\/","title":{"rendered":"Enron Raided Reserves to Boost Earnings"},"content":{"rendered":"<p>Wesley Colwell, the former head of accounting of Enron&#8217;s wholesale energy unit testified that in July 2000, he shifted $14 million from reserve accounts to pump up earnings. He also testified that neither Kenneth Lay nor Jeffrey Skilling directly told him to manipulate earnings.<\/p>\n<p>Colwell testified that Enron&#8217;s wholesale unit delayed financial reports for the fourth quarter of 2000 until they were instructed on how much profit the company wanted to report.<!--more--><\/p>\n<p>He also testified that in 2001, the company improperly delayed reporting losses in the retail energy operation.<\/p>\n<p class=\"times\">Colwell is cooperating with the government, and has already paid a $500,00 fine to settle SEC allegations that he manipulated earnings.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wesley Colwell, the former head of accounting of Enron&#8217;s wholesale energy unit testified that in July 2000, he shifted $14 million from reserve accounts to pump up earnings. He also testified that neither Kenneth Lay nor Jeffrey Skilling directly told [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[16,827],"tags":[],"class_list":["post-88","post","type-post","status-publish","format-standard","hentry","category-auditing-regulations","category-public-companies"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p6Z0e-1q","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts\/88","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/comments?post=88"}],"version-history":[{"count":0,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts\/88\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/media?parent=88"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/categories?post=88"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/tags?post=88"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}