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If he's being forced by other parties to shut down the service because it's illegal, he's still the one who decided to open the service and he's still ultimately responsible for that. He caused financial loss to his investors by not doing his due diligence beforehand to make sure he would be able to keep his agreement.
Investors should have done their due diligence as well, but the buck doesn't stop there, and that doesn't let Nefario off the hook.
Investors should have done their due diligence as well, but the buck doesn't stop there, and that doesn't let Nefario off the hook.
The owners are partners with him and knew damn well it was illegal, they even apparently were trying to sell out because Nefario wanted to come clean to the regulators.
It sounds like you are judging one partner in the scam a scammer based on what you have been told of the internal politics of their illegal operation while ignoring that the partners in this illegal business are not the victims here. You aren't moderators of their privately run criminal enterprise, you are moderators of this forum.
The scam is GLBSE as an organization.
I don't know if it's illegal or not, like you said I'm just a mod. That's not the issue here. I care that he breached his contract multiple times and defrauded investors.
And I wasn't told anything, I was provided chat logs and everything else I asked for, and verified that Nefario was acting on his own, against the will of the shareholders, without so much as asking for their opinion, much less a shareholder vote.
You can believe what you want though, doesn't much matter to me. Just setting the record straight.
You are expert enough to adjudicate breach of contract when it comes time to brand one side in the internal GLBSE dispute as a scammer but suddenly confused and "just a moderator" when it comes to others. Including Theymos who is a partner in GLBSE and admitted it was an unregulated black market and therefore illegal and then knowingly took action to sell shares in a product that was worthless due to the illegality right here on these forums.
You should moderate the actions of people who knowingly sell junk a investment on these forums, not go combing through the IRC logs of private illegal businesses to take sides in an internal dispute.
come one come all 
