Fraud projects are done by people whoi targets to con the unaware investors. It is very difficult catch them. So, what punishment they derserve should come only after they are caught.
That's right. They simply prey on those who doesn't know much or who only tries to invest at something without actually knowing about its background. The unfortunate part there is that most people would discount the fact that as much as the people who make these scam projects are to blame, partly, they are too because they had all the resources and most probably the time to study and get to know the project before they could have invested in it, but they didn't and so part of the blame goes to the investors themselves.