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Some of the unwise investors were pension funds, which means that a significant number of ordinary people hurt by this weren't themselves the risk takers. Or are they to blame for not doing enough due diligence in researching the wisdom of their pension fund managers. Just how far do you want to take this?
Most people are not investment-savvy. That doesn't make fraud less of a crime. If anything, it makes the case for heavy punishment of fraud.
itsbruce
Airhead
I don't want to come across as a Theranos apologist (because I genuinely am not) but if people did not invest what they could not afford to lose the impact of this sort of shitshow would be far less. Most business investments lose money after all. There is definitely an element of people being exploited but also, allowing themselves to be exploited in this.