A local businessman in our area began day trading and options trading. Soon was fudging the books and lying to corporate about inventory. They soon came and locked up the joint, hauled him to jail and his family had to sell out to make up the losses. They'd owned a huge mansion and estate outside town - now its a development.

He was in his 60's, been a rock in the community and nth generation in the family business.

I'm not in favor of loosening the rules on who can trade risky investment.