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ankoles [38]
3 years ago
12

Explain why Madoff created the Ponzi scheme despite not even needing the extra money.?

History
1 answer:
Stels [109]3 years ago
3 0

Answer:

He funded redemptions by attracting new investors and their capital, but was unable to maintain the fraud when the market turned sharply lower in late 2008. ... In 2009, at age 71, Madoff pleaded guilty to 11 federal felony counts, including securities fraud, wire fraud, mail fraud, perjury, and money laundering.

Explanation:

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