TheSwede was never actually involved in the development of ASICs - he was just a spokesperson.
How could he not be involved? From the IPO:
The company is running two separate development teams in both Europe and China, enabling the paralell development and production of 130 nm ASIC and the future 65 nm ASIC chips.The only possible reason I could have seen to invest in labcoin is those asics, but Im now willing to bet crazy odds thats never going to happen.