While I understand ML's reluctance to train people without an enforceable bond, I think that the manner in which he does it to be completely unacceptable.
Any bank in the country will open an escrow account into which the prospective pilot could put the $ 30 000. The agreement would state the terms under which the money would be paid to Jetsgo. (Pilot leaves of own volition, prorated etc.)
This arrangement would give Jetsgo the protection they need, but with one big difference. If Jetsgo goes "Tango Uniform", the pilot goes to the bank, and picks up the money.
When I proposed this arrangement to them, they declined, saying "that's not the way ML wants to do it".
What are they so afraid of. Makes me think I should be afraid of losing my money.
I sincerely hope that a shortage of experienced pilots with $30000 dries up soon. Maybe they will come to their senses and at least explore the "escrow" option.
Iwould also add that I have a family too, and I think that gambling with $30 000 on a company about which I have NO financial information (private company) would be extremely irresponsible.
Pilots are supposed to exibit responsible behavior, and analyse risks.