In 2008,Bernie Madoff,a former Wall Street broker,committed an elaborate Ponzi scheme and was found guilty of making fraudulent investments totaling over $60 billion.What is this type of crime called?

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Bernie Madoff's action is an example of white-collar crime, which refers to nonviolent criminal activities that are financially motivated and committed by individuals or organizations with sufficient economic or social stature.

In 2008,Bernie Madoff,a Former Wall Street Broker,committed an Elaborate Ponzi