He not only lost it, he lied and said he did not lose it and that their money was safe and sound. Big difference. When you fabricate numbers and lie to people w

He not only lost it, he lied and said he did not lose it and that their money was safe and sound. Big difference. When you fabricate numbers and lie to people who have given you money, you're committing fraud, regardless of your ultimate intentions or if you manage to recover the money through other means.