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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