This seems surprisingly far down the list of what SEC's priorities should be. A million dollar fraud when there are almost certainly billion dollar frauds ongoing.
One theory for going after small fish is that fraudsters often start small and get bigger and more sophisticated (and harder to catch). Therefore, it's good to nail them early and signal to other junior fraudsters that they're not underneath the radar.
It'd be interesting to take famous big-time fraudsters and work backwards to the very first crime they got away with. And reckon how much time and resources could've been saved if they'd caught them then.
One theory for going after small fish is that fraudsters often start small and get bigger and more sophisticated (and harder to catch). Therefore, it's good to nail them early and signal to other junior fraudsters that they're not underneath the radar.
It'd be interesting to take famous big-time fraudsters and work backwards to the very first crime they got away with. And reckon how much time and resources could've been saved if they'd caught them then.