Same as a bank? If you lie to investors and get yourself nuked, the owners or what passes for owners get wiped out, which is normal. The people who really qualify as victims are those who were harmed and didn't benefit from the fraud, which is everyone else.

Sure, some people would lose money but didn't intend to cause harm. Those are victims of the fraud. Their shares of the criminal company still get wiped out and they get in line to get bankruptcy proceedings.

Is there another way that makes sense?