Warp and Fly, IMO, you are both right and the truth is never black and white.
I never heard the rumor that HW was on a bad guy list. However, wasn't HW, or one of his companies, the subject of an SEC investigation back in the day? I could be wrong. I did hear the rumor that the issue with the SEC settlement was more related to personal issues of an indivudal in the SEC, i.e. a personal vendeta. IMO, HW was wraped up in that by association and it was just another reason for the company to push him away.
It is not my area of expertise, but I believe that it is okay for a company to promote and sell its own private placement to qualified investors. If a company uses a consultant or brokerage (and gives compensation for the services), then that person/entity needs to have the proper registrations with FINRA. Thus, it makes sense that MC and GE pushed HW away as a consultant and, according to Warp's post, MC may have offered to put HW on salary after the SEC settlement.
