Enron has been on a downward spiral for a long time.
The former oil company was caught cheating on the emissions controls and then was forced to sell off millions of dollars worth of its stock.
Now, it’s suing the government for millions in back taxes and fines.
The company says that it has been the victim of massive fraud, and it’s demanding more than $2 billion in back payments from the government.
In its lawsuit, Enron says that the government has failed to protect its customers and has ignored it for too long.
The judge, Judge Jeffrey Garthwaite, has been one of the most vocal critics of Enron’s actions.
He ordered the company to pay back more than half a billion dollars in back tax penalties and fines, but also gave the company a 10-day deadline to respond.
The order was later extended to December 1st.
As of now, Enrons attorney hasn’t responded to CNN’s request for comment.
Enron isn’t alone.
A few years ago, we also saw Enron plead guilty to fraud in a criminal trial.
The case involved a fraudulent $8.5 billion sale of a gas station and restaurant chain.
Enrons criminal case involved Enron trading in a fake stock that was supposed to be sold on the stock market and then getting back $2.5 million of it, for a total loss of $6.9 billion.
That’s a loss of almost $2,000 per employee.
But Enron did not actually make a profit.
In fact, the fraud was so huge that Enron was able to pay just over $2 million in back payroll taxes, for the $8 billion in loss.
But the government did not believe Enron, so they were able to bring more than a $2-billion lawsuit against Enron.
In the end, they only received $2 in back pay for every employee they fired.
That was the biggest win for Enron in a court case to date.
The court found that Enrons actions were motivated by greed and not because of any good business strategy.
But, the Enron story has not been an isolated one.
In addition to Enron and others like it, many others have been caught in the same mess of Enrons crimes.
In 2012, an Alabama man was convicted of fraud in connection with the purchase of Encore.
He was accused of selling Encore stock, which was supposed not to have any market value, and using the proceeds to buy a real estate investment trust and other assets, including several properties.
In 2013, a Florida man was charged with securities fraud for allegedly using Enron stock in a $1.2 billion purchase of a hotel.
The SEC and other law enforcement agencies eventually found that the purchase was a Ponzi scheme.
The same year, a former Texas prison guard was convicted on securities fraud charges for using Enrons stock in his retirement fund.
The FBI says that Enrones frauds are also costing taxpayers millions in lost revenue and lost tax revenue, with more than 100,000 people being arrested for securities fraud since 2000.
Enraged and desperate, Enrontion has sued Enron for more than 50,000 employees and the government and Enron over the past year.
The lawsuit has garnered much attention, and the court has made a significant ruling in Enrontions favor.
The Enronton lawsuit was filed after the SEC ordered Enron to pay nearly $1 billion in taxes and penalties for violating the Securities Act of 1933 and the Bankruptcy Code.
Enrontons attorneys also say that the SEC failed to follow the law and that Enrontrons actions are illegal.
Enons attorneys have argued that the Securities and Exchange Commission (SEC) was not following the law when it approved the $2B back tax payment, because the agency didn’t look at the company’s true intentions and just made a decision based on how the company reported its earnings.
But Judge Garthwwaite disagrees, saying that the agency acted properly.
Enormonts attorneys are hoping that the case will put pressure on other corporations and companies to make similar mistakes.
Enatron has also filed an appeal with the Court of Appeals for the District of Columbia Circuit.
If the case gets the green light, Enatron could be facing an additional $2-$3 billion in fines and back taxes for violating securities laws.