The founder holding 90% already created scam vibes. Of course this is mostly damage control and they already have it all planned out from beginning.
Doing damage control means the founder gets to get away with this. Millions of dollars are already secured in the bag, but this damage control also means he gets to be able to create another project let's say in 2 to 5 years time .
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Right. No accountability basically and actual investors will never recover their investments.