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Yah, that's where the fraud comes in. The intermediary obviously designed their pitch and promotion to customers to make them believe they were depositing their money in an FDIC insured account. Otherwise I doubt most of these folks would have deposited their money with them. These weren't risk taking people. If I was a lawyer, I'd be suing whoever it was that got these folks to open an account with them. That person also probably believed the account was FDIC insured, which means you have to name the directors of the company in the lawsuit. If you can prove they knowingly committed fraud, the coporate shield for liability evaporates. The tricky part is proving that, of course, and the money has apparently been disappeared expertly. It's gotta be somewhere though. They need a good forensic accountant. They should look up The Accountant.
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