Used a so-called ponzi scheme

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In 2008 Bernie Madoff used a so-called Ponzi scheme, which lures investors in by guaranteeing unusually high returns. Summarize the event of Bernie Madoff’s accounting scandal. Identify how the illegal or unethical act was detected and describe the punishments that resulted (fines, prison terms, etc.). Consider what could have been done to detect this act earlier or to prevent it from happening in the first place.

Reference no: EM132114541

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