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Kenneth Lay Ethics Violation Of Arthur Andersen

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Kenneth Lay ethics violation
Kenneth Lay was charged with money laundering, bank fraud, insider trading and conspiracy. It was one of the most shocking and widely reported ethics violation of all time. It bankrupted the company and also destroyed Arthur Andersen one of the largest audit firms. It caused the imprisonment of several leadership groups Lay was sentenced to 45 years of prison. He was convicted of 6 counts of fraud. Former CEO Jeffrey Skilling and lay were tied together on 46 counts of money laundering, bank fraud, insider trading and conspiracy. Skilling was convicted on 19 counts and sentenced to over 24 years in prison. 20,000 employees lost their jobs and life savings. He sold large amounts of Enron stock, he liquidated more

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