Which of the Following Statements About the Bernie Madoff Ponzi

question 20

Multiple Choice

Which of the following statements about the Bernie Madoff ponzi scheme is false?

• A) Madoff too advantage of his unique ties to the investment community (he was the former Chair of the NASDAQ) to create trust and encourage further investments.
• B) Madoff began perpetrating the fraud shortly before passage of the Sarbanes-Oxley Act, and the provisions of that Act ultimately led to discovery of the fraud.
• C) Madoff was sentenced to 150 years in prison.
• D) The estimated amount missing from client accounts, including fabricated gains, was almost $65 billion.

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Definitions:

Infinite Resources

The theoretical concept of having unlimited materials or assets available, which contrasts with the reality of finite resources in the world.

Commons Dilemmas

Situations where individual interests conflict with the collective good, often leading to the overuse or depletion of shared resources.

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Instances of prolonged violence between national military forces, or between armed groups within a nation, often recognized by significant levels of aggression and organized combat.

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