And yet I imagine lessons were learned. The chief one should be to arrest your perps immediately. With CMKX, far too much time passed between the suspension of UCAD and the announcement o criminal charges. NONE of the "masterminds" was arrested quickly. They had time to run.
I think if they'd picked up Edwards, Urban, Turino, and a few others--the NevWest guys, for example--quickly, they could have used them against each other, which is what usually happens in mob cases.
More recently, big penny scams have been treated that way, and the perps testify and cop a plea. While it isn't always entirely satisfactory--Sandy Winick, shockingly, got only three and a half years in the slammer--it's better than what happened with CMKX.
News 
Market Data 
Discover 
AI
