Question: 1. Ponzi scheme continue to be created; they are especially prevalent when there is a global financial crisis. The attraction of the Ponzi scheme is
1. Ponzi scheme continue to be created; they are especially prevalent when there is a global financial crisis. The attraction of the Ponzi scheme is that it has a greater than average rate of return with little to no risk to risk to the investors. The scheme requires new investors to pay the initial investors. . 2. The ABC Accounting firm has hired you as a consultant to educate the firm about Ponzi scheme. This will require you to research Ponzi scheme occurred in 2018. * Your definition of a Ponzi scheme. (in your own words). * Your description of the Ponzi scheme that you chose. * Your explanation about why the scheme is illegal. * Your thoughts on how this Ponzi scheme might have been detected * An application of the fraud traingle to show how this Ponzi scheme could have been avoided
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