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In this video, we have discussed about the $ 74 billion fraud biggest in the world history. This scandal was of Enron scandal. This scandal leads to enactment of SOX laws.
Shareholders, employees, and creditors were left devastated, as the company's stock value plummeted from a peak of $90.75 to nearly worthless in a matter of months.
The scandal not only led to Enron's bankruptcy but also resulted in significant regulatory changes aimed at preventing such corporate misconduct in the future.
This scandal also lead to closure of the Big 5 firm Arther and Anderson
