I think your theory is off - there is not even a "theoretical" way AM could be a ponzi scheme: the dividends paid out to investors are approximately five times the total investments they received.
The paper value of AM's securities (over 200k shares) are well above the dividends they've paid out. I agree that it is much less likely, particularly because they sell hardware. Hard to fake that.
But they
could announce some patently false "great news", spike the share price, dump as many shares as they could manage, and run off with the hardware. Nothing stopping them, really, since these virtual shares probably won't hold water in a courtroom.