Jekyll and Hyde

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Definition of 'Jekyll and Hyde'

The term "Jekyll and Hyde" is often used to describe a person or company that has two very different sides to their character. This can be seen in the financial world, where some companies may appear to be legitimate and trustworthy on the surface, but are actually engaged in fraudulent or unethical activities behind the scenes.

One example of a company that has been accused of being a Jekyll and Hyde is Enron. Enron was once one of the largest and most respected companies in the world, but it was eventually revealed that the company was engaged in a massive accounting fraud scheme. This scheme allowed Enron to artificially inflate its profits and mislead investors about its financial health. The collapse of Enron led to the loss of billions of dollars for investors and employees, and it also shook the confidence of investors in the entire corporate world.

Another example of a Jekyll and Hyde company is Bernie Madoff's Ponzi scheme. Madoff was a well-respected financier who ran a hedge fund that was supposedly investing in stocks and bonds. However, Madoff was actually running a Ponzi scheme, which is a fraudulent investment scheme that pays returns to investors from new investments rather than from actual profits. Madoff's Ponzi scheme eventually collapsed, and investors lost billions of dollars.

The Jekyll and Hyde phenomenon is a reminder that it is important to do your research before investing in any company. Just because a company appears to be legitimate and trustworthy does not mean that it is. It is always important to read the fine print and to be aware of the risks involved in any investment.

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