I know I'm going to get grilled for saying this, but I don't see Ray Franz as some kind of saint that some make him out to be.
He didn't seem to experience any crisis of conscience while 'spinning' and lying for the WTBTS as he wrote all those articles, or serving as a WTBTS apologist when he KNEW he was supporting unscriptural policy (I remember him writing about having to cherry-pick evidence to support the date for the first destruction of the Temple, and when they couldn't find any, he shifted gears to falsely attacking the credibility of the experts who offered the correct answer).
It was only after it became apparent to him that he was effectively kicked out in a power struggle, and wouldn't hold ANY position of responsibility in the JWs (not even as an elder: that idea was shot down from Brooklyn when the local congregation tried to do it, after he resigned from GB) and AFTER being DFed, that he wrote COC. He probably decided that if he couldn't play the game any longer, then no one else could: he'd show them. Sure, it's childish, but that's human nature.
He'd have earned more respect from me had he written COC WHILE on GB, published, and THEN resigned from GB and publicly DAing himself before they could DF him.
Not that it matters: his book rings pretty true to me and to those I've talked to who actually "served" (slave-labored) at Bethel when he was there. I believe what he did was incredibly helpful in exposing the scam, and hence his motives are not a concern to me: while the motives MAY be suspect, the conclusion is right/just. I doubt he'd have killed the goose that laid the golden egg, had he believed he'd be able to continue benefiting from it.
Besides, does anyone really care if there's ethical members on the GB, when you KNOW it's a Spiritual Ponzi scheme, a scam? The entire endeavor is unethical, morally-bankrupt, since it's based on lies (the Bible being the largest accumulation of unproven hypotheses and lies stacked onto each others, like a Tower of Babel).