FriedCat was not reputable. He was backed by people who enjoy abusing DefaultTrust's
green blessing. I pointed out that many times (Ref:
https://bitcointalk.org/index.php?topic=888960.0). Today Bit-X is backed by almost same range of people (including you).
How was he not reputable? You do realize how many coins he paid out in the early days right? Shareholders who trusted him early made coins hand over fist before the trust system was even around.