Good. Fraud cannot afford to pay. As a Miami resident, the more people here that get busted for fraud, the better - this city has a reputation for allowing and enshrining fraud, so anyone getting taken down is a good thing.

That said, I've said it before, but JPM's Risk Management team and Due Diligence teams must suck. How on earth was this fraud allowed to happen? If you're plopping down that kind of money on anything, you need to do proper due diligence, period. I don't care if it misses out on a potential investment because it was too busy making sure said investment wasn't a scam. I also don't care if it doesn't meet some arbitrary goal of investing in a certain number of (or certain $$ amount in) minority-ran/founded companies - I'd vastly prefer that it pay me a higher interest rate on my deposit, or better yet, not loose nearly $200 million dollars on a fucking fraud.