It's different when you lose money when you "fail to sell," and when you lose money because the CEO of LIBE was actively and consistently posting lies on this board about convertible debt that was undisclosed in the company's financials.
And of course there's not conclusive evidence at this point that the current venture is a scam... it's still in its early stages. But by the same token you can't prove it's *not* a scam either. So you have to make a judgment call.
In making that judgment, the past behavior of the guy running the show is pretty good information to have in deciding whether you think this one will follow a similar pattern...