This is a GREAT example of how effective regulation works. Under federal regulation, such Ponzi schemes go on for years undected, right under the SEC’s big federal nose. Meanwhile, effective state Regulators, like Commissioner Frohman and her staff, clamp down on such schemes and not only that, have the tools necessary to go after the criminals and make the victims whole again.
This is a GREAT example of how effective regulation works. Under federal regulation, such Ponzi schemes go on for years undected, right under the SEC’s big federal nose. Meanwhile, effective state Regulators, like Commissioner Frohman and her staff, clamp down on such schemes and not only that, have the tools necessary to go after the criminals and make the victims whole again.