You are much more likely to see a charge for running an unregistered security than a Ponzi (where a Ponzi by definition is an unregistered security).
The only problem is if regulators go after Pirate for offering unregistered securities (whether the Ponzi aspect comes into play or not), they would go after EVERYONE. All the exchanges here, GLBSE, etc. are illegal, unregistered securities from a US regulator's perspective. They all pass the Dewey Test.
So while Pirate may have scammed many and you can lay Ponzi/fraud charges on top, having this community pursue civil or criminal action is kind of like a group of drug dealers getting together and complaining about the one dealer who scammed them.
Exactly, I don't why people are acting so naive. Everyone needs to take responsibility for their own investment decisions.
+9000
So, what you are saying is that only way to take this scammer down is by other means than legal action. Lets hope this happens soon.
Do not forget to post pictures for proof of capture etc.
He has to go down. FULL STOP.
You are putting words in my mouth, of course, like a true troll...
I am advocating for a radical change in direction, far far away from any of these so called "investments".
And whiners who lost money in the latest scam, should eat their losses, and accept that they too were conspirators of an obvious ponzi scheme.
This is all of course if they truly care about Bitcoin and would like to see it succeed.
If people want to go on a virtual witch hunt, I honestly couldn't think of anything more detrimental to Bitcoin.
It will just prolong this entire incident, and cause even more pain and losses.
IF they don't care about Bitcoin, then I really am not interested in giving those type of people even
one minute of my time.