Perhaps scam is a bad description. It was obvious that the operation was a money furnace and of course you would waste money on advertising after the IPO. You don't think all those shares were sold to investors do you? They needed to appear legit to continue dumping their own shares after the IPO.
If that's the case, why didn't they sell out? They still had a ton of shares that didn't sold, and they certainly had enough coin to buy them all.
Maybe the demand wasn't there to sell out and they had better plans for those coins?