A Ponzi scheme refers to the legitimate imvestment of client's money and using new clients to pay for the returns on existing investors. True False QUESTION 4 Sophisticated investors trusted Bernic Madoff for all of the following reasons except: They performed their due diligence. Bermie had a long track record for suceessful investing. Bemie served on SEC advisory commuttees. Bernie played hard to get. All of the above are trie