If all he did is transfer custodianship and did not "sell shares to the public" then he will be just fine. He can get a check for the introduction and acting as a consultant legally. If Tony did something illegal, then that is his problem and not CLSI's nor is it the problem of the merging company. Funny thing about laws and legal mumbo jumbo, it's very specific about things and if they are not then an action can be considered perfectly legal. that's what lawyers do, navigate within the confines of the law. I'm confident Tony had good legal advice on how to do this deal without getting in trouble and if not, once again it's of no consequence to any of us.
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