There are literally thousands of such scams, and the SEC doesn't have the resources to investigate more than a very small fraction of them.
When they do go after these microcrap scams, they usually only take civil action and fine them for a very small amount of the money they robbed from investors.
Diwan has defrauded the investing public of ~$120M over the past 16 years, pocketing tens of millions of dollars for himself in the process. He wins no matter what the SEC does to NNVC.
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