Well, not really. The SEC is just as guilty of negligence for allowing the scammers to operate without shutting them down. How many months must the billions pass through on the ask for the SEC to step IF this really was a scam?
Perhaps the SEC has something to hide themselves...too many shares in the float, not enough issued? Somebody's gonna have to pay up. Maybe it's the sheep, maybe not.
If that's true, the SEC has terrific grounds on which to sue 'em.
Of course, my statements are just my opinion. All research conducted to reach my personal conclusions are available on the internet and public domain.