White Collar Crime

The Madoff Affair represents the largest stock fraud in history. Please carefully view the film. http://www.pbs.org/wgbh/pages/frontline/madoff/view/
Answer the following three (3) questions each in essay format.
1. What specific agencies would/should have come into play that may have prevented this major white collar crime?
2. Discuss appropriate guardianship practices that were employed in this case, what was not sufficiently employed?
3. Why and how should sanctions be applied to each of the parties and this white collar crime including individuals and the organization as a whole?