Hi Max You made some great points related to the expectation

Hi Max. You made some great points related to the expectations for the CEO and CFO. Prior to SOX, there were a handful who did try to “pass the buck” when scandals were exposed claiming that they had no knowledge of the fraud. The legislators behind SOX basically took the position that as an executive leader, you should know exactly what’s going on in your organization. Class, can you think of some examples of executives who did not want to held accountable for the fraud in their companies? Brandy

Solution

Well, from the reading of the question I believe you require references to the cases in which financial crimes were done but executives were not executed. Some of the high profile cases are of release of executives of Fannie Mae and Freddie Mac by SEC in which penalty was paid instead of imprisonment.

For more clarification or alateraion let know in comments. Thanks