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Wow.   You could not write this script for a reality TV series.   
TL/DR:  Some older gent that seems to know about as much about technology as columbo, is quoting "law" to some other guy and insisting that the "laws" allow him to "take" the illegally listed, promoted and distributed shares in his "virtual" company that seems to be in "reality" a disaster.
This is great...    Would this be tried in federal court?   Would officers of the court be obligated to ask the SEC to charge Ken before the civil case is tried?   Please keep me up on this script, I am typing my show proposal now.   Watch out Duck Dynasty because this gong show is going to be far more entertaining.