Amerco also claims PwC acted recklessly when it told Amerco it had to consolidate the special-purpose entity on its own financial statements in 2002, causing Amerco to restate two years of numbers and wipe out 92% of its reported 2001 net income.

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In recent months several other financial institutions have formed similar special-purpose vehicles that invest in private companies' stock, piquing the SEC's interest.

ECONOMIST: And will its new financing scheme fall foul of regulators?

And previous witnesses already had testified about meetings in which Skilling heard about Enron's deteriorating financial condition and approved Fastow's outlandish "special-purpose entities" designed to hide those losses from the public.

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Securitization involves pooling assets or rights to cash flows, bundling together those assets with similar characteristics, and creating a financial instrument that can be traded (often through a special purpose vehicle, or SPV).

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