I Knew that Enron M.O. Smelled Familiar

· White-Collar Crime

According to the Chicago Tribune, “Executives at the former highflying Internet consultancy MarchFirst Inc. orchestrated a campaign of questionable transactions and spending to foster an ‘unfounded illusion of success,’ according to a bankruptcy court filing Tuesday.”
Also, “According to one charge, the company engaged in a financial practice known as ’roundtripping,’ where MarchFirst invested in a start-up company only to have the firm hand the money back for MarchFirst’s consulting services [, giving] investors and analysts a false impression of the company’s financial health.”