Which one of the following statements is correct?

Select one:

A.

Ponzi Schemes most usually involve using the money obtained from earlier investors in order to pay so-called interest to later entrants to the scheme. Eventually the scheme must therefore fail.

B.

The making of facilitation payments to individuals will not create any legal problems unless such a payment is made within the United Kingdom.

C.

Failures of phoenix companies generally result in shareholders being responsible for debts incurred by the directors.

D.

Institutional investors such as CalPERS often advocate good corporate governance practices but they may not be reliable as forces for good corporate governance.