Look, I feel bad for them. That's a lot of money to vanish. But for fucksake, some common sense here.
The investor had set up a bank account in "their" name, and even if it was, how does that change anything. Its not their bank account, or did we miss the part that they handed over ALL their details and drivers licenses/passports etc.
It would be interesting to see a transcript of the call with the bank confirming the transaction