Here is my story: in my country, there was the man who work for the government open a bank which promise to provide a higher interest than other banks. And then, unsurprisingly, he shut down his bank system and take away all the money he obtain. He run away with about more than 1000000$. Luckily, he have been caught recently but sadly, he will stay in jail for only 10 years without returning the money to victims
Seems like this one followed one of the most basic concepts of scamming people. It goes like:
1. Offer something more than other people or other company is offering at the moment.
2. Let people hype up the idea and convince them that everything you're saying is true.
3. Once you got the your target amount, start having problems and issues.
4. Run away.
By your post, "there was a man", it seems like the guy is just someone that you haven't heard of before and just came out of nowhere offering those. You don't even know his name. I think what has happened was a real life ponzi scam. I wonder where all those money went. But I think it's on the government's hands now. Poor people, they weren't aware of things like ponzis and so they invested.
Yeah the money maybe on the government's hands waiting for that man claim them back. Fuck the government, they always try to steal citizens' property. I can assure with you that after he is released from prison, they will give those money back to him and he will go abroad and live without being recognizing by anyone