unsophisticated investors=idiots
“As alleged in our complaints, elderly and unsophisticated investors have lost millions of dollars as a result of these boiler room schemes. The SEC has worked in parallel with the U.S. Attorney’s Office for the Eastern District of New York to hold the perpetrators accountable, despite their alleged attempts to use sophisticated and complex methods to conceal their fraudulent conduct,” said Carolyn M. Welshhans, an Associate Director in the SEC’s Division of Enforcement.