I am finding it difficult to edit or delete this post so let me just add here as a comment that after some further additional research and also speaking to one of the team members on the IUNGO board I have completely changed my position on this.

They have explained to me exactly why all the things that have happened have occured in my original post which had me wondering if this was a scam/cash grab and they have shown me that this is a legitimate ICO and they have reached their hard cap also.

I wish them all the best in the future as they are going to be doing some wonderful things for the world.