You are a relatively new journalist at an accounting publication: The Journal of Strategic Fraud Warriors, which is headquartered in New York City. The target market for Fraud Warriors includes academics, professional fraud examiners, accounting practitioners, attorneys, financial managers, government regulators, and other highly educated professionals. The journal is sold in high end bookstores, university bookstores, and on Websites of various professional organizations. In your sixth week of employment, your boss assigned you to author an article on the fallout from the Bernie Madoff Ponzi scheme.

Using your own words, answer the following in a well detailed post:
Using Cressey's fraud triangle, discuss how Bernie and his co-conspirators rationalized the fraud given that they were all very wealthy before their involvement in the scheme.

Answer rating: 100% (QA)

The Fraud Triangle is a model developed by Dr Donald Cressey a criminologist whose research focused on fraudsters According to Dr Cressey there were three factors that were present when an ordinary pe... View the full answer