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:

Why didnt sophisticated investors perform due diligence before investing large sums of money with Madoff?

PLEASE ORIGINAL ANSWER. DO NOT COPY AND PASTE FROM THE INTERNET PLEASE. THANK YOU