The question is whether any of those "poor decisions" amount to scamming. Delisting Goat's assets suddenly, with no need to do so, and betraying  the agreement with GLBSE customers to secure their ownership interests, crosses the line, IMO. Converting GLBSE's customers ownership interest into worthless claim codes, with no agreement that allowed that conversion and no attempt to minimize the collateral damage to GLBSE customers and no effort whatsoever to clean up the mess crosses the line for me.

And there is no evidence whatsoever the Nefario believes that he did anything wrong. It appears he maintains he has the right to render any such asset worthless and any ownership interest meaningless for any reason at any time and would actually do so if he felt like it.

Also, holding Goat's coins, even though there is no dispute over the ownership of those coins, for the apparent purpose of gaining leverage in the dispute over the ownership of Goat's issued assets is over the line.