he was a co-founder of the company, promoted it, lured the victims in, and then kept it a secret when he got pushed out and realized what his crooked partner was doing. Then, when one of the victims finally blew the whistle, he dodged responsibility and pretended to just be a fellow victim. Did he premeditate and design the scam himself? Of course not. He was just grossly negligent, irresponsible, dishonest, and cowardly. As a result, the more active offender got away with the scam, the investors are shit out of luck, and I'm down here with my partners working to redeem the Galt name on a shoestring. Nobody's calling Jeff a criminal mastermind... just a dishonest, irresponsible huckster that lures people into ruin and refuses to fix the damage afterwards.
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At the point where he kept his mouth shut about it being a scam, assuming that indeed happened, that is when he became a scammer, too.
no, it isn't. You're going along with the narrative that he's just a fellow victim. You say "not a good thing," which indicates moral neutrality, which is misleadingly false. His actions were absolutely immoral and if I were ever to pull that kind of shit, I would rightfully have to fear for my life.