ABC News: Another Ponzi Scheme Stopped -- and This One Targeted the Deaf

Quote from article
(Starting in September 2007, BCI and Cooper raised $4.4 million from 125 investors in part by conducting seminars at deaf community centers, according to the SEC. The agency alleges that Cooper misappropriated at least $1.4 million to buy a new home and cover other personal expenses.)

Apparently this has taken the SEC since September 2007 to discover this latest scheme.
Why did they not discover either Maddoff and Standford as speedily as they discovered this latest scam?

I think that something is really seriously wrong with the workings (or non workings) of the SEC.