The SEC is moving forward with the case, albeit slowly. Pirate will be going to prison. But these things take time.
Hopefully. What's going to happen with any coins that will be found? Is there a chance that they will be returned?
He doesn't have 500,000 coins so the calculation is all off. Most would settle for the Dollar value of the coins at the time he went under.
That's why I said rumors. Nobody had a chance to look into Pirate's wallet and PPT operators too were no help at all in this matter.
So even if he has "just" 100,000 coins, a trip for retrieving them could earn someone $900,000.
as a newbie, can u tell me what Pirates scam involved, how it worked?
Just like any other Ponzi. He just did it on a quite professional level (even met with investors) and had a great #otc rating what helped a lot too.