It seems POSCOIN developer, POSCOIN, has scammed IPO investors on his thread,
https://bitcointalk.org/index.php?topic=554784.300;topicseenHis/the last post on the thread is, "Don't worry, your BTC will be well spent for Jehovah's Witnesses cause and education!", or rather translated, " Thanks for all your bitcoins, time for me to go partying!"
Even after intense scrutiny of the dev of POSCOIN, people still donated towards his IPO...I hope people learned, DO NOT invest in IPO's without an escrow...or the Dev is gonna take your money...and go partying like Stackcoin, Edgecoin, and now PosCoin dev is.