As far as I am aware, the project is not a scam. No money has been raised and there have not been any attempts at fundraising either.
Based on my knowledge, Jamal simply financed the project, he does not have any involvement in its operations or even in the conception of the project.
Edit: ANN thread was closed on the request of Lauda, again, I do not believe the project is a scam since nobody has lost money over it except Jamal himself.
Happy to provide conversion logs if needed.