Enron scandal
Many executives at Enron were arrested for many charges and some were later sent to prison. Arthur Andersen was found guilty of illegally destroying documents relevant to the SEC investigation. This voided its license to audit public companies and almost closed the firm. By the time the ruling was overturned at the U.S. Supreme Court, Arthur Andersen lost many of its customers and stopped operating. Enron employees and shareholders received limireturns in lawsuits, despite losing billions in pensions and stock prices.