I think the situation is much more complex than this. First of all this company probably never generated any profit and as such should not have been running for so many years. I'd say that owners were too proud to go for bankrupt and preferred to feed the company from their own pockets. The problem comes when these guys gets suddenly broke because of the crisis: they can no more feed the company.
In a normal business operating costs (including salaries) should be covered by profits and shareholders should only help at some particular occasions. In this case this company has been running for ages on the back of shareholders without making any profit. I don't really think these guys were really interested in "stealing" money from their employees as this money was nothing to compare with the amounts they used to deal with in other businesses. They have been supporting this company and these salaries for long time on their own and I'd say that if they suddenly can't move on it has more to do with the fact that their real fortune was at the wrong place and that they simply suddenly can't go on. Your way of thinking is absolutely too simplistic.
As salaries should be logically paid form profits, I'd first blame the management which was not capable of generating any income due to its lack of competencies and dishonest behaviors. When the big boss calls himself captain (with how many hours?) and holds a fake Phd there is no surprise to see where the ship is going. I'm not worried for him as he must be busy running his other businesses...(which probably made some money on Gulfjet's back).
As per CL604's friend, things are not as simple as they may look. If it's absolutely true that he should get paid, terms of the contract have to be known before any comment. Was there any bond? Any paid Type Rating which should be paid back by the pilot? Under which conditions? it might seems very logical to you, but it's not always that easy in front of a court. Naming and insulting on this forum is not the way and I would suggest to be careful with terms and conditions before accepting... again, before signing with these guys it would have been a good idea to check how they work. When the Fleet Manager attends meetings with clients in Jeans and flip flop you should think twice before relying on the company...