Something tells me that Balkany will be OK. Who are we to say he "got it wrong". Julien may be involved with STEP in some way, shape, or form. Many times these guys don't get rich due to scruples or principles.
On the bright side of this announcement, I won't have to read the idiocy of bsimp again. May he/she fade into oblivion, but I'm sure they will find the need to torment another board.