I would argue that good scams go along with a good prospectus. The review process usually can only probe for formalities. I don't think btc-tc has an expert panel for every security they release to judge the numbers which are projected in the prospectus.

One could argue that the current published business plan lacks a solid foundation, since some parts are deliberately non-disclosed. The common procedure to attract capital under those circumstances is to invite investors into an info-meeting and let them sign non-disclosure agreements. But that's obviously a problem when seeking out the public right away - and the fund manager already admitted that this fund raising was rushed - which explains a lot of the birth problems. However that neither invalidates the viability of the operation, nor the sincerity of the operators. That's for the expert "investor" to decide.