Grifters should be punished for their scams, and it's also acceptable for "investors" on these scams to lose their money i think (that's a hard punishment already; no need for anything extra). Thinking of it the other way around: as a society, it wouldn't be nice to bail out or compensate these "investments", as doing so would encourage people to keep doing throwing their money on things they don't have any clue about and expect to be compensated if it turns out bad.