If he's being forced by other parties to shut down the service because it's illegal, he's still the one who decided to open the service and he's still ultimately responsible for that. He caused financial loss to his investors by not doing his due diligence beforehand to make sure he would be able to keep his agreement.
Investors should have done their due diligence as well, but the buck doesn't stop there, and that doesn't let Nefario off the hook.
The owners are partners with him and knew damn well it was illegal, they even apparently were trying to sell out because Nefario wanted to come clean to the regulators.
It sounds like you are judging one partner in the scam a scammer based on what you have been told of the internal politics of their illegal operation while ignoring that the partners in this illegal business are not the victims here. You aren't moderators of their privately run criminal enterprise, you are moderators of this forum.
The scam is GLBSE as an organization.
We didnt know it was illegal at all. I didnt ask a lawyer before using bitcoin either.
Some clearly did, such as Theymos who was upset that Nefario would go to the authorities in relation to the criminal actions. Regardless, ignorance of the law is not an excuse. You are still responsible for the actions of the organization you were involved with.
Nefario clearly misrepresented what was a sole owner operator as an actual company the shareholders got a vote in. Because when it came to the crunch it clearly wasnt. If we were actually owners Nefario couldnt do what he wanted. Meaning he lied the entire time since any motions we took in the end were simply ignored.
Normally a ceo cant just do whatever he wants so he wasnt ceo he was the sole owner operator. Its like sending bitcoins to a 401 nigerian scammer and him saying you own his company and get to vote. No, you dont own the company and he will take your money in the end.
I do not care about the politics of your internal dispute with your partner. Settle your own disputes, this thread is about settling the actions of your business with the victims here of the meltdown.
Theymos announced he was selling an investment product for a company that was operating outside the law. He argued that the company should continue to refuse to comply with the law.
GLBSE should have been a black market operation, no offense. The fact that the founder is known and visible and that the exchange is centralized is a big red flag.
Agreed. I always argued that GLBSE should be an unregulated platform for trades.
Trying to sell an illegal investment product is a scam. He did this in your name. You should be just as upset as anyone.