Jay Fantano, a New York resident who describes himself as a golf professional, served as one of four administrators for IntellaShares. This investment scheme, marketed with a low entry point of $2.50 per unit, launched earlier this year. Fantano had assured participants that IntellaShares would be a different opportunity, promising a competent, convicted, and committed team after "enough failures in the last 90 days."

Despite these assurances, IntellaShares collapsed only weeks after its introduction. Fantano and the other administrators quickly announced a relaunch, but no new version of the scheme has materialized. Investors, many of whom had already experienced losses in other online schemes, grew restless as the promised revival failed to appear.

In response to mounting investor inquiries and frustrations, Fantano issued an ultimatum via a message to participants. He threatened to add "disputers and openly disrespectful members" to an "industry BLACKLIST." This list, he claimed, would be made available to other "program owners," potentially barring individuals from future investment opportunities.

The concept of a Ponzi blacklist, where scheme operators share information on investors who demand accountability, represents an unusual tactic. Such a system would require cooperation among operators who typically avoid public association, and it would target individuals whose investments often represent significant contributions to the scheme's overall pool of funds. Administrators implementing such a list would essentially be penalizing their most substantial, albeit now critical, former participants.

Fantano's message expressed clear exasperation. "We are only working as hard as we can. The mean messages to us are de motivation and cause the process to take longer," he wrote. He also questioned investors' patience, stating, "I’m surprised at how little patience some people have. Couldn’t imagine what some of you are like in the DMV LOLOL."

He further criticized those who he felt were not listening or reading updates, accusing them of jumping into "a handful of quarter mile sprint programs" while the IntellaShares team was "working our asses off." Fantano emphasized that official announcements would be the only source of updates. He demanded "respect, class, and appreciation" from investors.

Fantano concluded his statement by asserting IntellaShares was "a company and not a democratic organization with public obligations." He personally recommended that investors operate "in the realm of reality." He contrasted the "die hards and supporters," who would be "noticed and will be rewarded for your steadfastness," with the "disputers."

The warning about the industry blacklist carried a stark consequence: "So be careful what you do now it could result in loss of ability to become a member of any program in short order." Fantano closed with a final declaration: "Accountability…. Is coming. Real company, real people, real products." The identity of those who own or operate this purported "industry blacklist" was not disclosed.