Seems like a lot of work has gone into this very elaborate scam. Would have been easier to ninja launch a 1 day PoW coin with a 3% premine for the coin owner to dump
Scam or not....the whole premise of it seems like a scam....and I've said it since Day 1. Pre-mine of 33.3% of your own coin to create "a bank" and putting a price of $10 per coin on them. You just can't create a coin, take 1/3 of the coins, have a value of $1 billion dollars and go from there. None of it makes any sense to me.
Look how "Waccoin Silver" did:
https://bitcointalk.org/index.php?topic=592538.0. I can't tell but it looks like a 28% pre-mine on this guy as well.