David, the CEO of a bank in the U.S., has been embezzling money from the bank's clients. In order to avoid being caught, David destroyed all the financial records. Due to these actions, David can be prosecuted under the ________.

Question

Quizplus · Accepted Answer

The Sarbanes-Oxley Act of 2002 was introduced in response to financial scandals (such as Enron) where financial records were destroyed or falsified. It includes provisions for criminal penalties for executives who willfully destroy or falsify records. Therefore, David can be prosecuted under this act for destroying the financial records to hide his embezzlement.

David, the CEO of a Bank in the U