The money is gone and it will never be seen by us again. He lives the high life and spends big time. The other assets he has taken are shifted into other names and companies. While he can't issue a financial statement, he knows how to move funds to make them difficult to find.
How much can you lose when you invest in a penny stock? All of it.
My losses, probably smaller than yours, came from another venture. He has managed to escape thus far. My hope is that December will be different.
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