The Judge called them unelected, illegitimate officers who were knowingly involved in scamming the investors. That's pretty clear. He also called to task for the same things all current and former officers. He also said Williams had been involved in unscrupulous behavior and that he may have broken the insider trading law. There is a lot of blame to go around here, not just in the behavior of a few. I find it impossible to believe that any officer who served was unaware of what was going on. The civil suits for damages coming against the officers will clear-up a lot of questions. I am surprised that we have not yet heard from a contingency lawyer wanting to start a class action suit. That will come.
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