It looks like at least some of Justin Sun's suspicious behavior had been 'detected' by non-regulators some time ago: https://cryptoslate.com/justin-sun-backs-ft

It looks like at least some of Justin Sun's suspicious behavior had been 'detected' by non-regulators some time ago: https://cryptoslate.com/justin-sun-backs-ftx-debt-token-fud-in-possible-securities-law-breach/ https://cryptoslate.com/justin-sun-backs-ftx-debt-token-fud-... That was from a quick Google search, so I'm sure there are many more accusations. It seems like the SEC has never been the 'first' to detect a fraud, and they've frequently ignored ones that have been pointed out to them (such as Madoff).