[touchofevil]

I think you are incorrect about how much the Breitman's would make from the ICO. The Breitman's company DLS would get 8.5% of the ICO funds once the main net launches and then their company would also get 10% of the genesis block, but that vests over four years.

So 8.5% of $232 million would be about $20 million and it's hard to say what 10% of the genesis block would be worth over the course vesting. Below are the details about the payments to the Breitmans.

https://www.tezos.com/dls

Payment Structure and Contrast to Common fundraising practices It has become common in fundraisers, or in token generation events (TGEs) for founders of entities selling tokens to reward themselves, in addition to their token allocation, via salaries with little or no accountability and oversight and in a manner that doesn’t reflect the viability of their product.

In contrast, payments to DLS are contractually prescribed via the following criteria, which are being shared publicly and in advance of the fundraiser:

No payment will be made unless and until the terms in the preceding section of this document have been met. Once met, DLS’ shareholders will receive 8.5% of the contributions made during the fundraiser. In addition, DLS’ shareholders will receive a 10% allocation of the tokens in the genesis block, placed in a smart contract that will vest monthly over a period of 48 months. These criteria represent a far more transparent and equitable reflection of the reality of the transaction.

[kirillseva]

who controls the rest of the money? Could be the same people, just indirectly, via friends or shell companies incorporated in Switzerland

[trhway]

>who controls the rest of the money? Could be the same people, just indirectly, via friends or shell companies incorporated in Switzerland

you're absolutely right :

" The idea, according to documents on the Tezos website, was that the foundation would raise money via the ICO, then acquire DLS, the Breitman-controlled company that has been developing Tezos. "

So it seems that the plan was that Breitmans would take as much money as they want (can we say "all the money"? :), and probably the foundation guy that Breitmans are fighting now did bait-and-switch reneging on the agreement to buy the company (as it would be hard to believe that even in Switzerland such agreement can exist in a legally binding form) and chose instead to have all this money to himself. $400M of free money can do that to people :)

[touchofevil]

The ICO funds are controlled by a Swiss foundation. See my other comment in this thread regarding the board members of the Swiss foundation.