The FBI has increasingly focused on policing hedge fund fraud over the past few years. This is likely due to hedge fund fraud schemes becoming more complex, financial regulators being under-resourced and seeking FBI assistance, and the view that such frauds are more criminal in nature. A recent example the FBI investigated was a $40 million Ponzi scheme run by John Davey in North Carolina from 2007-2010. Davey was convicted on all counts and sentenced to prison, while his alleged co-conspirator Keith Simmons was also convicted and sentenced to 50 years.