Everywhere I go on the internet lately, I've been targeted by Monaco Visa Card adds. This implies to me that a start-up "initial coin offering" (ICO) has spent way too much money on advertising, and not enough time on getting it's project off the ground. To be sure, things look entirely over-done on too many levels, that its hard to know where to open up a critique.
Started doing some preliminary research, and everything I know about good business practices, went south with red flags raised high in the air, like a marching army ready to outflank and ambush all of my instincts. In less than an hour, I convinced myself that Monaco Visa, is more than likely a fraudulent scheme dressed up in a pretty business suit, meant specifically to target new and naive cryptocurrency investors with disposable, and/or new found wealth. Monaco Visa's ICO, seems to me more like a politician making promises before an election; which says nothing of the vested interests within VISA, premiums set by exchanges, and/or national interests, none of which I would argue it is equipped to negotiate on their terms.
MONACO VISA CARD & CONTROVERSIES: 
As for my own critique, having read Monaco Visa's whitepaper, I have concluded that their dividend program is the main reason why large investors would move in on the action; and for no other reason (All other flashy promises made are likely meant to fleece naive investors). Their promises for dividends seem both too good to be true, and additionally, way too non-descript to take seriously. I even found it hilarious that they threw some math formula for dividends as a way of advertising how the dividends will work, without showing charted information in a more presentable fashion, like as if they deliberately want investors to not understand.
Secondly, they haven't to the best of my knowledge attracted any large investors, that have gone public and endorsed Monaco Visa. Often I will only invest in projects that have attracted known investors, that are very public and leaders in their industry, with deep pockets, that have time to perform due diligence, investigating who is who, for months and/or years before a company offers an ICO or private placement. This is a strategy I often use, so I don't get burned. I follow the smart money, if you will; while sometimes doing my own research on people, and informing the largest shareholders, in terms of disciplining future market action.
Instead Monaco Visa offers no time for people to perform due diligence, asking questions like who are these people, and can they be trusted with my money. Secondly it demands that investors of their ICO have their tokens locked up in a smart contract for 3 months. Now if I was sitting at the other end of a table over lunch with someone who offered me such terms, I would be very tempted to tell them on no uncertain terms "to go F'.... themselves..." Working as I do, for myself these days, I probably would, with a rather intense construction voice.
Now as for management, if the allegations of the CEO's past performances are true, via the linked video above by "Boxmining", and the comments listed below the video, I would suggest that it is possible that the Monaco Visa ICO brand will be sold by July/August, and bankrupt soon after. My humble prediction.
I would also suggest that since there are a lot of very shady ICO's being offered on Ethereum, that such episodes will eventually effect the price of Ethereum no differently than Mt Gox. While I myself am invested in Ethereum, for me, I will likely jump out sometime in the future before the "bad news" explodes over the horizon. For now there is smoke, and I see things just getting started... To me, Ethereum has a lot of potential, but I also see it instinctively like some sort of Tesla stock, that has really good potential, but has never turned a profit - and may never. I'm very skeptical. I'm personally worried that scandal might implode the Ethereum business model and that it might grow too fast for its own good (I'm actualy more a fan of NXT for keeping humble and small, and developing real content in a way that will likely deliver at a pace that can withstand future growing pains - infact I think NXT is massively undervalued and a real target for value investing. It may be the quiet turtle that wins a lot of future business, and I've taken note).
That said, I am very biased that organizations that have yet to turn a profit, like Ethereum, have a lot of growing pains to go through, and that's "if" they even survive them. If Ethereum gets known as a pool infested by sharks, people won't swim. It's really that simple. Sometimes trees are best known for their fruit, rather than vice versa. Monaco Visa ICO, is to me, likely just the start of a lot of really bad future publicity.
If I were management within Ethereum, I would insist that the company have a minimum level of compliance for ICO's, AND I would make the companies wishing to have an ICO, pay to be investigated by third parties. Otherwise, I'd quickly start sending a resume out, looking for other work activities, not wanting to be around when SHTF. Go figure!