A conflict of interest is when your interests are negatively correlated to the interest of the entity or job you represent (in this case LTC). Charlie's interest were completely positively correlated with LTC and now they are not. In fact we no longer know what they are and his interests can, potentially, be against LTC. This excuse makes no sense. Maybe he's about to start a new crypto coin venture. Whenever a corporate CEO sells out his company shares in a massive exit, it is a bad sign.