The SEC seems to be rooting out fraud and Ponzi schemes like never before. I lost count at 14 the number of press releases issued by the SEC since 1 April that contained the word "fraud" or "Ponzi" in the headline. I don't remember anything quite like this. There are Ponzi schemes aimed at Korean-Americans, Chinese-Americans and just on plain ole regular clients. (Just scroll down the SEC press release home page and you'll see what I mean. Oh, and, of course, it should be noted that an allegation does NOT mean a person is guilty.)
Today's news: The SEC charges a New York investment advisor with plain stealing $6 million of his clients money to buy himself stuff.
Of course, enforcement actions and client complaints (and arbitrations) are correlated to the health of the capital markets, but there just seem to be more outright theives than usual (i.e. as opposed to allegations of unsuitability or misrepresenation).