He issued several securities on GLBSE and comingled the funds with other projects such as KRONOS.io which was "hacked" and lost 4000btc.
That may be bad business, but assuming it was actually hacked, that's not a scam. (Unless the contracts prohibits it.)
ZIP.A never worked from day one yet magically paid dividends for a couple of months (a sort of pyramid scam)
If a company raises more funds than it can spend, it should pay a dividend. However, if this affirmatively mislead investors into thinking the company was making a profit, that's a problem. (Were there statements accompanying these dividends?)
Bitcoinrebate was also a faulty site from day one and no attempt was made to fix any bugs.
What were the funds raised supposed to do? Hire a programmer to work on it? Do we know if anyone was hired?
Each case alone seems pretty weak to me. However, all of them together combined with the lack of communication might be a different story.
There were no financial statements issued for those sites. The issuer has had zero communication with investors.
Kluge can provide a more in depth case against this guy as he has lost a great deal more money than most. Anyone considering doing business with this guy in future needs to have it brought to their attention.
