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The Biggest Bankruptcies in Corporate History
By siliconindia
Enron
Once among one of the world's leading energy companies and a blue-chip stock, Enron went on to bankruptcy due to massive accounting fraud and insider trading scandal. The company had been hiding losses in offshore companies for years and continued falsely inflating their stock. When the situation became public, they were forced to file for bankruptcy. Thousands of employees were laid off and their pensions evaporated.
