A similarity between the Bernie Madoff situation and that of R. Allen Stanford is they both were:
A) The head of a major U.S. stock exchange
B) The CEO of a company that went out of business after a major financial statement fraud
C) Involved in Ponzi schemes
D) Exonerated in a trial because of lack of evidence of wrongdoing

Question

Quizplus · Accepted Answer

Both Bernie Madoff and R. Allen Stanford were involved in Ponzi schemes, in which they used new investors' money to pay off earlier investors, rather than actually investing the money.

A Similarity Between the Bernie Madoff Situation and That of R