You must be kidding? Misappropriation of funds is a crime and should be punished by law. Nothing to do with GLBSE beeing illegal. He just ran away with our funds. Thats how I see it.
From what I understand he passed these funds through to fraudulent asset issuers. He was just a middleman. It's a bad idea, but he didn't really profit that much himself.
I hope we can identify and pursue the asset issuers to recover the investors' money.
If he doesn't pay back a dime nefario won't get anything out of this. Perhaps a couple thousand bitcoins, but thats less than a years salary for a normal person.
Ideally you would pursue the asset issuer. If they can't be located I guess we can assume it is nefario.
I really cant see why you are taking his side here. He is it who fucked up! Actually I had a balance of 250BC in my account and its gone. Nothing to do with any asset issuers.
Also the asset issuers did not much wrong. Maybe in legal terms, but it actually could be seen as just a way of crowdfunding. Thing is they can't do anything, guess why? Because Nefario fucked up! Thats right! He didnt even contact them yet. And he's the only one who had the data of asset owners.