Mate, I don't feel your pain because I wouldn't be silly enough to pay for a product that didn't exist, but I can empathise: in the excitement of BTC a lot of people got caught up in the hype, and it's sad that you (and other people) thought it would be a good idea to put up money for some company to fund their R&D with. You guys bought into vaporware with the dreams of making big dollars mining BTC.

However sad that story might be, it's still not a scam just because you feel betrayed and cheated. Do you have actual evidence that someone at BFL is embezzling company funds? Because embezzlement is illegal, and if you have evidence -- actual evidence, and not just your hyperbolic tantrum ranting -- you should really hand it over to the relevant Government agency... after posting it here, of course.