© D.L. Crumbley
Enron’s crude oil trading operation based in Valhalla, New York was fictitious, according to one auditor.
“It was pretend. It was a playhouse. There were a lot of expensive people working there, and it was impressive looking, but it wasn’t legitimate work.
The traders were keeping two sets of books, one for legitimate purposes – to show Enron and auditors from Arthur Andersen – one other set in which to record their ill-gotten gains.
Source: Mimi Swartz and Sherron Watkins, Power Failure, New York: Doubleday, 2003, p.31.