Who was/is eF?

Someone recently mentioned this guild in a thread, and many posts to follow seemed to give me the feeling that this guild has done something dumb. Can someone tell me what exactly eF is, or was?

Long story short, eF used to be a highly ranked guild, then they sold that guild and the tag to a bunch of nooblets, who then used that guild to run bots and a lot of scams.

Pretty much sums it up I think. I only know them from what people have said, so I could be way off from reality.

Weren't they resold over and over?

Not to mention selling invites and gold capes to every noob with 100k. Hence why people found in pvp teams with that tag and cape are generally ridiculed.