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Enron is another fascinating example, there is an interview with the former CFO where he talks about what he calls "legal fraud" - practices that are highly dub

• _hyn3 5y ago
  There's no such thing as "legal fraud". Fraud is always illegal.
  • Pyramus 5y ago
    In theory yes - in practice no. Legal/illegal is only a binary variable in theory. In practice it's things that are clearly white, clearly black and lots of grey in between. There are many concrete examples regarding accounting rules mentioned in the interview. The question is where does a court draw the line, and as parent rightly points out, sometimes code/case law changes after the fact.
    • tsimionescu 5y ago
      I think the parent is making a point about definitions - that the word fraud can only refer to illegal actions by definition. I think this is an overly literal interpretation of language' though.
      • chalst 5y ago
        Since the term was quoted in Pyramus' comment, this goes from being overly literal to being perversely pedantic.