Alot of those that were bilked were not investing directly with Bernie. Their advisors were lazy asses who didn't do their due diligence or they obviously would have seen that "the emporor had no clothes". Although even govt regulators couldn't/wouldn't see the truth through their "filters" either.

Which brings up another subject. D-I-V-E-R-S-I-F-C-A-T-I-O-N. The fact that these advisors had individuals' entire portfolios with a single investment (granted it was supposed to be a diversified fund) speaks volumes about their thought process. "Wham bam thank you maam, done deal, took care of that, got er done, ___________ insert your favorite phrase, now let's go play golf I'm worn out from all that 'work'". And to add insult to injury I bet the vast majority still have a securities license. Pitiful.