The criminals were fooled by cons: false confidence and bravado. I know almost nothing about criminal culture (if there is such a thing), but I'm not surprised

The criminals were fooled by cons: false confidence and bravado. I know almost nothing about criminal culture (if there is such a thing), but I'm not surprised that people engaged in crime would be accustomed to evaluating others based on those signals. What is surprising is that such cons - such signalling and trust in it - as spread to legitimate business at the highest levels. It's run SV and much more for awhile now. Really, the criminals made the same mistake that all the celebrated investors did make, and continue to make, with the endless parade of SV fraud.