I don't have any experience with passing the SEC's muster for going public, but if this was a scam, attracting the SEC's scrutiny would not be in their interest

I don't have any experience with passing the SEC's muster for going public, but if this was a scam, attracting the SEC's scrutiny would not be in their interest, because it may trigger the interest of other agencies (FBI/CIA?) Are there examples of when the SEC cleared a company to go public, that was really in hindsight an elaborate money laundering and/or pump-and-dump sham? Because it seems to me like that would be exactly why the SEC exists: to protect the avg non-sophisticated non-professional retail investor from such things. I guess it's hard to tease apart a pure pump and dump from a money laundering operation from one another.