According to ElReg an Australian financial advisor has been had by 419 scammers for AU$1m !!! He raised the cash by convincing his clients to invest in ficticious companies. When they didn't get any return the clients started to ask questions and he ended up being investigated by the Australian Securities and Investments Commission who have had him charged with 5 counts of "obtaining a financial advantage by deception".
This is fine, and I agree that he should be done (each count carries a maximum panalty of 10 years' jail) but here's the thing: the 491ers will likely never be caught.
So they ride off into the Nigerian sunset with over a million AU$ while the stupid sod (sorry, but he is) who raised it for them languishes in jail, which proves that ignorance is not always bliss.
I'm not saying that I know the solution to the problem, but something needs to be done - and soon.