Originally Posted by ladym
At this point the investigation is not over, so no one knows the outcome - the money may or may not be gone. You still have an account as does he, if the investigation is over, and PIPS returns in a new form, you can assess the situation then, and you can decide to just keep on or perhaps explore an option to sell your account to him if you no longer want to be involved with it.
If, on the other hand, the bank completes the investigation and it is absolutely definite that PIPS cannot return in any form, then that is the time (not before, not now) to discuss with him options regarding the money you deposited (your decision) into PIPS through him and come to whatever amicable resolution you can. You can be assured, he is more upset about exchanging your money into PIPS than he is about any possible personal monetary loss he may suffer. I know I am in that situation regarding a friend as well. (My only objective was to help some else get financially ahead, not to take their money. I will not share anything like this anymore with anyone because I do not want to be held responsible (1) if it goes wrong, and (2) if it does go very well, a lot of people will not know, nor want to find out, what to do with new found money - taxwise, etc.)
What we all need now is patience for the investigation to conclude before taking premature action of any sort, and a good measure of compassion for each other.
LadyM