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Enron's Andrew Fastow charged with inflating profits.
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On March 19th the SEC charged HealthSouth, America's biggest provider of outpatient surgery and other healthcare services, and its boss, Richard Scrushy, with fraudulently inflating profits by at least $1.4 billion since 1999.
Since then, Cendant has agreed to a $2.8 million settlement with shareholders and three former CUC executives have pleaded guilty to inflating profits to keep share prices high.
The suit contends that Enron executives conspired with the banks to inflate profits and hide debt.
The commission evidently found three violations, two in hedge accounting and the other in an Enronesque scheme to inflate profits with fake sales.
The company filed for bankruptcy protection last December amid reports that executives inflated profits and hid losses with off-balance-sheet partnerships.
Medicare prescription drug reform of 2003 was written by profiteering insurance and pharmaceutical industries, with billions of dollars of taxpayer subsidies and inflated profits to benefit their bottom lines.
For much of the last year, accounting experts and Congressional investigators have said Enron did not just bend the rules -- it repeatedly broke them to inflate profits and hide billions in debt with off-the-books partnerships.
The board's report found that in the year leading up to Enron's collapse, executives inflated profits by almost $1 billion through complicated transactions with partnerships that provided phenomenal profits to a handful of senior executives.
He reckons Enron may have used limited partnerships and other financial vehicles to inflate profits.
At the time, Tesco said the rogue practice had inflated profits by £250m.
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