The Raptors involved special purpose entities, requiring an outside investor.
As a special purpose entity, the project company has no assets other than the project.
As chief financial officer, he put together the offshore "special purpose entities" that helped get Enron into trouble while enriching himself.
Some of the reasons for creating special purpose entities are:
Under the deals, assets would be sold to supposedly independent vehicles, known as special purpose entities.
It is closely related to the concept of a special purpose entity.
The company elected to disclose minimal details on its use of "special purpose entities".
In total, by 2001, Enron had used hundreds of special purpose entities to hide its debt.
The special purpose entities were used for more than just circumventing accounting conventions.
The special purpose entities had been used to pay for all of this using the entities' debt instruments.
