"It's really devastating," Ms. Schock said. "They've lost their money, but in some cases, they also lose their faith in humanity."
Even after Madoff, Ponzi scams still flourish →
"When you're dealing with people of faith, that's just it, they're people of faith," the SEC's Ms. Schock said. "They believe in the person, and they don't think they would lead them astray, unfortunately, until they do."