Which of the following statements about the Bernie Madoff Ponzi scheme is false?
A)Madoff took 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.

Question

Quizplus · Accepted Answer

Madoff actually began perpetrating the fraud in the 1990s. The Sarbanes-Oxley Act, which passed in 2002, did not directly lead to the discovery of the fraud.

Which of the Following Statements About the Bernie Madoff Ponzi