Yep, that's called Fraud. The only reason its continuing is because the political will to prosecute the rich, especially their big donor friend Elon who they've been giving billions of government subsidies to - investigating him after helping him makes them look bad too, and oh boy did MANY state and federal dollars flow his way.
It's certainly not fraud if you are making progress towards delivering at some nebulous future date, and there was no contractual delivery date in the pre-sale.
It's debatable whether it's fraud if the initial pre-sale expressedly included the possibility of non-delivery (i.e. Kickstarter).
> It's certainly not fraud if you are making progress towards delivering at some nebulous future date, and there was no contractual delivery date in the pre-sale.
Only legally, this is basically just fraud with legal disclaimers covering your ass, there's no integrity here and no intention of delivering anything more than the hyperloop.
