There's nothing you can really do, except pay people the money that they lost...but since it's not your fault, I don't see why you would want to.
Write your team members a letter, with the advice of legal counsel of course, explainiing the situation and how a business venture always involve some area of risk.
And that they signed up for that risk when they agreed to be in business.
Short, sweet and to the point.
In the future, you want to do your research on any company you get involved in. Pick one that's been around at least a couple of years. That reduces your risk of it going under taking your reputation and money with it.
Corrisa
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