New Scam Artist Emerges

The tiny Caribbean island of Antigua brings today's multibillion dollar fraud allegations. While this Stanford fellow's $8,000,000,000 fraud allegations pale in comparison to the $50,000,000,000 allegedly bilked from investors by Bernie Madoff, this is just one in a string of bad financial men busted in the last year and a half. All of these new allegations coming up now make me wonder where the SEC was all of these years. For all of the money they spent prosecuting Martha Stewart over a tiny fraction of these amounts one would surmise that they could spend some resources tracking down multibillion dollar frauds and ponzi schemes.