Enron announces the return of the new owner in an elaborate prank

Enron announces the return of the new owner in an elaborate prank

Enron, the notorious Texas energy company that collapsed after one of the largest corporate fraud cases in U.S. history, resurfaced Monday as part of an elaborate prank by the brand’s new owner.

“We’re back. “Can we talk?” released a promotional video featuring Enron’s logo, posted on X on the 23rd anniversary of the company’s bankruptcy filing.

“In the modern world you have to accept that change is the only constant. Learn how to adapt. Forgive me,” the video said. “To enable change in the world and within ourselves. We understand this better than anyone and are here to lead by example.”

The video – which features a ballerina dancing on the beach, a boxer fighting in the ring and a farmer working in the fields – turned out to be a parody backed by a T-shirt company.

An Enron parody announced its return in a promotional video posted on X on Monday. X/Enron

Trademark documents show that an Arkansas-based LLC called The College Company purchased the Enron brand in 2020 for $275.

College Company co-founder Connor Gaydos also created Birds Aren’t Real along with Peter McIndoe. The bogus conspiracy theory suggests that birds are drones created by the government as surveillance tools – a joke that pokes fun at the conspiracy theories themselves and sells tons of “Birds Aren’t Real” T-shirts to Generation Z.

CNN first reported on Enron’s new owners.

Enron did not respond to an inquiry about its current owners, although a certificate of incorporation of Enron Corporation, obtained by The Post, was filed in Delaware earlier this year.

Reddit users were quick to speculate that the new Enron’s marketing efforts — including a billboard in Houston, Texas, where the original company was headquartered — were a precursor to an Enron crypto token.

In a press release, the company hinted at its future involvement in the cryptocurrency space, citing “permissionless innovation” as one of its key pillars going forward.

“Decentralized technology is advancing and we will of course continue to play a role in the future,” the company said in a statement.

The new Enron announced its return in a post on X on Monday.

A seven-day banner on Enron’s website counts down by the second a “very special” announcement coming next week.

For now, the plan is an elaborate prank to sell Enron-branded T-shirts, sweatshirts, “dad hats” and water bottles through Enron’s shiny new website.

The new Enron certainly leans into the company’s scandalous history and lists one of its core values ​​as “remorse.”

“Acknowledging and taking responsibility for past mistakes is not just for show – it reflects our commitment to ethical practices in the future,” the company said.

The original energy company collapsed in 2001 after a major accounting fraud. X/Enron

Enron’s infamous collapse in 2001 led to executives including Kenneth Lay and Jeffrey Skilling being prosecuted for fraud offenses. An independent investigation published in 2002 revealed that they had pocketed millions of dollars from off-market schemes and lied to shareholders about the company’s profits.

Lay died of a heart attack in 2006 while awaiting sentencing. Skilling was released from federal custody in 2019 after serving a 12-year prison sentence for conspiracy, insider trading, making false statements to auditors and securities fraud.

Enron had also encouraged its employees to invest in the company’s stock shortly before the company went bankrupt, resulting in some workers losing not only their jobs but also their entire savings. The workers later won $85 million in a class action lawsuit.

In August 2001, unrest began brewing at Enron when Sharron Watkins, then the company’s vice president, discovered the accounting scandal and told Lay, then Enron’s chairman.

The Enron logo in front of the company’s headquarters in Houston in November 2001. Getty Images

In October of that year, Enron reported a massive third-quarter loss of $618 million and announced that the company had increased its profits since 1997. Later that month, the company announced that it was being investigated by the Securities and Exchange Commission.

The next month, the company announced a $9 billion acquisition by Dynegy, a rival energy company. But weeks later, Dynegy said it had broken off talks.

By the end of the year, Enron filed for Chapter 11 bankruptcy protection, and by January 2002, the U.S. Department of Justice had opened a criminal investigation into Enron’s demise.

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