I believe the coach knew perfectly well what he was doing. They used this company to get investors to invest a lot of money into the company. They needed to have a company that was operating so that investors could physically see the company, but they also made sure they wouldn't have to use that much money from the investors to keep the company going. Since they cut the coach a deal that for every investor he got, he would get 20% of their investment, that motivated him to persuade his fellow friends to invest more money and encouraged many to invest. Which in turn makes the company grow since it had so many investors and each investor putting in so much money. It also helped the coach earn a lot of his investments back since he was able to recruit so many high-profile coaches. If he really felt back about all the money that he got from his fellow investors he would of given it all back if he supposedly found out late 2010. Obviously he hasn't paid it back yet but he would rather just go for a settlement so that he wouldn't have to give everything up.
I believe the coach knew perfectly well what he was doing. They used this company to get investors to invest a lot of money into the company. They needed to have a company that was operating so that investors could physically see the company, but they also made sure they wouldn't have to use that much money from the investors to keep the company going. Since they cut the coach a deal that for every investor he got, he would get 20% of their investment, that motivated him to persuade his fellow friends to invest more money and encouraged many to invest. Which in turn makes the company grow since it had so many investors and each investor putting in so much money. It also helped the coach earn a lot of his investments back since he was able to recruit so many high-profile coaches. If he really felt back about all the money that he got from his fellow investors he would of given it all back if he supposedly found out late 2010. Obviously he hasn't paid it back yet but he would rather just go for a settlement so that he wouldn't have to give everything up.
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