Question: The CLICO case had a devastating impact across the caribbean in 2009. Some even questioned it was a Ponzi Scheme. In 3 paragraphs explain the

The CLICO case had a devastating impact across the caribbean in 2009. Some even questioned it was a Ponzi Scheme.
In 3 paragraphs explain the following:
1. What were the facts of the case?
2. What were the Regulatory failures and lapses that aggravated the situation?
3. Explain whether you agree or disagree that it was a Ponzi scheme.

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