1000 times yes - there's 100+ year history of fraudsters, and IT DOES NOT WORK to prosecute after the fact: the incentive to defraud is simply too high, and the frauds can last for too long. Consider Bernie Madoff: he lived well for decades before his fraud unwound, and his fraud was not original - they call it a "Ponzi Scheme" after Charles Ponzi, a famous (but himself not original!) fraudster.

https://en.wikipedia.org/wiki/Charles_Ponzi