Enforcement is always "selective," really. Anyone who's followed as many penny stocks as I have knows there're far more violators than are ever made the subjects of enforcement actions, much less criminal prosecutions. The SEC has always hoped that if it "makes an example" of prominent miscreants, others will learn a lesson, and stick to the straight and narrow.
Naturally that doesn't work. But they don't have the manpower or the budget to go after everyone. So they pick the ones that are, on the one hand, egregious, and on the other, will attract some attention.
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