Bernie Madoff, recently sentenced to 150 years in prison for creating a Ponzi scheme which caused clients to lose millions of dollars, engaged in which form of crime

Question

Social Studies

Kaliyah Dudley

4 June, 05:13

Bernie Madoff, recently sentenced to 150 years in prison for creating a Ponzi scheme which caused clients to lose millions of dollars, engaged in which form of crime

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Answers (1)

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Carla Price · Answer 1

Answer: Corporate crime

Explanation: Corporate crimes are crimes perpetrated by a corporation or business entity, that is a business using an legal organizational name in it's dealings.

Corporate crimes could also be traced to individuals who utilizes his or her name and acts on behalf on an organization or corporation.

In the scenario above, Bernie Madoff is guilty of corporate crime as he his likely acting in behalf of an organization who indulges in ponzi scheme which flawed and resulted in the loss or disappearance of his client's investment.