The key point for a fraudster is not to be discovered.
Not even the best of regulators (and the SEC is not that) can be sure of stopping a determined fraudster.
One of Mr Felman's clients, a fraudster called Sholam Weiss, was sentenced to 845 years.
Madoff, considered the biggest fraudster in Wall Street history, is serving a 150-year sentence for theft, fraud and money laundering at Butner prison in North Carolina.
He added that the exposure of the fraudster Bernard Madoff underlined the need to look for rogue firms.
The most familiar type of enemy within is the fraudster.
Gambling is enough to turn an honest, kind, modest gentleman into a fraudster.
