Patrick's Kraken fund might be an even more clear cut case that Patrick deserves a scammer tag. Patrick guaranteed those deposits, and it is clear that Patrick knew the Kraken assets were correlated and risky.
I 100% agree. From what I understand about the Kraken fund, there is no excuse for Patrick not repaying principle to anyone who deposited in this fund. (And I strongly fear this fund may be 100% scam.)
Patrick guaranteed pirate debt....and he did so after knowing pirate had defaulted. What a lowlife.
I believe that the Kraken fund was only supposed to invest in things that Patrick 100% knew had nothing to do with Pirate or any similar kind of risk. So there should be no reason it shouldn't be able to return 100% of principle. (Other than perhaps a liquidity crunch or the like that might slow repayments.)
Update/Correction: The Kraken fund did make risky investments, but only after Patrick 100% knew precisely what those risks were, and he 100% personally guaranteed repayment of principle.