Feel bad for the people that lost their savings. But anyone promising that kind of return can't be trusted, IMO.
One of my young men's leaders ended up being a fairly wealthy guy. He got hooked up with that ponzi scheme crook in CA several years back and dumped most of his savings into it. The ponzi scheme guy was promising people 40% annual returns. Not surprisingly, it all fell apart and this former leader of mine lost a huge chunk of his net worth.