Great story, and great reading. When you read this story, have you noticed that the implication is "yeah, we caught the guy, but those wrongdoings occured a long time ago, and no, something like that couldn't happen today. Don't hold your breath. The SEC is still undermanned. For every act of crime they do discover there must be 10 or more cases they do not or cannot uncover. Some say brokers' expertise is far greater than that of their regulators'. See a list of about 100 stocks that have been suspended just in the last 10 days, because these companies appear to be shady; click http://www.sec.gov/litigation/suspensions.shtml. Or see how busy the SEC is trying to prosecute 100+ brokers, dealers, CPAs, and corporations; view http://www.sec.gov/litigation/admin/34-46897.htm. Also, www.sec.gov has some great stories on how brokers cheat. *IF* their cheating is discovered, normally their licenses are suspended for 30 days... i.e. slap on the wrist... then the bad broker is back on the job.