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I agree to the point where we call this a scam. Don't get me wrong, I don't defend the guy one bit. On the contrary, he fucked me over of what seems to be a few k as of now (unless the remaining of wires do come).
Now, unless this was planned for him to RUN with our money this was a pure legitimate business move that just hit the ground. Hey may have used the money as insurance to get fat loans for his projects or as co-investment. Which is NO DIFFERENT than what banks do with their money. You know that a run on the bank will cause the bank to go our of business and you don't call this a scam although banks don't have our money stashed in socks and use it just for loans and live off of interest. It's a bit more complicated than that (and more lucrative to add). And you all know it. So this ewallet was just nothing more than turning a virtual card provider into a bank, only that the activities of this "bank" were not as regulated as of your local trusted bank are. From there on the decision of where to invest the money was an unwritten law - it was up to the guy to use it as a seed money in investment that was to multidruple the investment. It's just if the investment was put all into one basket, all put on one horse, then it was very risky and in case of failure you have what we have now.
He still owes us money. That goes without a question.
It may not only be movies. Epass was also registered for real estate business as I was able to see in one of the threads. Whether that money was put into some real estate projects that didn't pay off quickly enough remains a question...
It could be a scam and it could not be a scam, but if it wasn't a scam it was nothing more than a risky business. Wouldn't you just do the same as he did (only that maybe you would spread the risk better)?
I know I would.
It's how the bankers make their millions after all (only they spread the risk much better).
But if this was all a scam, he should fry.
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