This Just May Tickle Your Fancy Today: Suit Seeks $3.87 Trillion From SEC In Diamond Fraud Case

There’s a fascinating story in the paper this morning about a lawsuit against current and former SEC commissioners stemming from the fraud involving CMKM Diamonds. The plaintiffs are seeking $3.87 trillion – plus unspecified punitive damages – and it alleges a vast government conspiracy involving the SEC, the Justice Department and the Department of Homeland Security. 

The article, by Floyd Norris, is entitled “Dealing With Fraud by Denial,” and it is available online at http://www.nytimes.com/2010/03/12/business/12norris.html?ref=business&pagewanted=print.