It's still going on! This is how GME had 150% of its shares shorted. The SEC looks the other way. GME was shorted by selling counterfeit stock. And this happens every day with hundreds of stocks.

Question. When's the last time you heard of anyone going to jail for stock market crimes?

What do you mean? Do you think laws make actions impossible? Or do you mean how was it executed? They do it through collusion, insider trading. They thought the collapse of game stop was inevitable so no one would notice if they moved it along a bit quicker and added extra to their profits with some shady dealing. Unfortunately their greed put them in a position where they could be squeezed and it looks like that is whats happening. Its like a sleight of hand trick but someone has spotted the trick and started telling the rest of the audience and now the magicians trick is ruined

Their fiat currency is also a naked short.