No, he raised enough money to say fuck you and ran

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Are you claiming they stole money? That doesnโ€™t appear to be the case. Even investors such as nostr:npub1rtlqca8r6auyaw5n5h3l5422dm4sry5dzfee4696fqe8s6qgudks7djtfs have come out and said they donโ€™t think anything shady happened. So no money appears to have been misappropriated. They gave very advanced notice that itโ€™s shutting down so you can take out your money easily, and no users got rugged. They transparently described many struggles theyโ€™ve had along the way, both in blog posts and in podcasts. Hence how I know not have covenants is/was frustrating.