The whole point of the status of an "accredited investor" was to separate (typically) savvy/knowledgeable people from complete amateurs. This designation was created specifically to prevent people from throwing money at poorly-researched/fly-by-night/scammy/hopeless investments. An accredited investor like PG has the knowledge and means to do due diligence before he commits money. Some local loser...not so much. That's the point.

I'm not going to argue this so much as reaffirm my mystification that regulatory bodies haven't interfered with this obvious conduit of fraud.