LOOKING BACK: Remembering the collapse of Enron

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Deborah Wrigley reports from in front of the Enron building as employees were laid off (AP Photo/Pat Sullivan, File)

Sixteen years ago, after weeks of spiraling out of control, Enron filed for bankruptcy on Dec. 2, 2001.

Enron was one of the largest energy companies in the world, but when it was discovered that the company engaged in accounting fraud to maintain its golden image, the energy giant's stock plummeted and the bulk of its workforce was shown the door.

Here's the way the scandal played out.

Video: Jessica Willey reports on Enron filing bankruptcy.
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Jessica Willey reports on Enron filing bankruptcy

What happened to the top officers of Enron? Ken Lay died in Colorado, after his sentencing. Andy Fastow was sentenced to six years in prison, and has been released. Jeff Skilling was sentenced to 24 years in prison, which was later reduced.

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