Having been in and around the software business here for most of my career, I find myself asking "what's the big deal? I see OLD white GUYS engaging in this kind of behavior all the time and the general reaction is that the victims were qualified investors, should have understood the risks, and should have done their due diligence. What is different other than that Ms Holmes is (or was at the time) a YOUNG white WOMAN? If the prosecutors were trying to enforce some kind of ethics in fund raising, why start with her?