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A "relatively safe private loan offering" is still subject to a disgruntled client to sue the salesperson who sold it to them. Whether they would be subject to ponzi scheme charges... is a different story. I'm certainly not qualified to answer that question.
Arthur Andersen - Wikipedia
Why would people lose their licenses just to handle auditing incorrectly? Were they paid off? I don't know. But people who are licensed should be (note that term "should be") moral people who should be trusted.
This is why licensing and regulations exist. Licensing so that we know that these people can be held accountable and regulations to have people holding licensees accountable for their actions.
None of this makes any sense to me. You have multiple on staff attorneys potentially going to prison then. Who would want to lose their law license over a Ponzi scheme? Really ?
Arthur Andersen - Wikipedia
In 2002, the firm voluntarily surrendered its licenses to practice as Certified Public Accountants in the United States after being found guilty of criminal charges relating to the firm's handling of the auditing of Enron, an energy corporation based in Texas, which had filed for bankruptcy in 2001.[1] However, in 2005, the Supreme Court of the United States unanimously reversed Andersen's conviction due to what it saw as serious flaws in the jury instructions.
Why would people lose their licenses just to handle auditing incorrectly? Were they paid off? I don't know. But people who are licensed should be (note that term "should be") moral people who should be trusted.
This is why licensing and regulations exist. Licensing so that we know that these people can be held accountable and regulations to have people holding licensees accountable for their actions.