I think its a fantastic idea, this committee thing.
Really, lets get some kids who havent got the faintest idea about semiconductor product development challenges, not a clue about the status of the project, the financials, who dont even know the players behind labcoin are, where they are or what they do, and for the most part only care about the next dividend, lets put some of those folks on a committee and all will be well. After all, another degree of separation, beyond just the investors > anonymous swede > mysterous sam > fabrizio > scammer can only be good, no? It will do wonders deflecting from the real questions!
"We form a group of 5 or so volunteers/nominees (no more than 10 in any case) who agree to meet regularly with each other, and also with Sam to discuss problems facing the project. There should be at least one EE on board, or at minimum someone with real experience with actual ASIC development. There should be a few people who understand business management, and at least one person with project management experience. This group should include at least one person who considers this a scam, and at least one person who considers this a sure thing. We need to have a balance of opinion here so that all sides are considered. Can't lose sight of the crazies, because sometimes they actually have a good point to make.
The group should meet at least weekly on their own, without Sam, to discuss what should happen during the following meeting with Sam. When the group meets with Sam, the meeting should cover past project goals, issues that have come up since the last meeting, and the plan for the next week, 30 days, 90 days, and 180 days. Assuming Sam wants the project to succeed, this should not only keep him accountable, but also give him a way to offload/outsource (sorry, couldn't help myself there) assistance from the shareholders."