If he borrowed money from his clents, he could go to bankrupcy to avoid to pay off his debt. He could get protected by law. simple.
If he is a agent, his client have no right to ask their investment back because they should know the risks of investment. He don't have any obligation to pay their lost back.
I don't understand this case at all.
对话杨钧:愧对客户朋友 愿用余生还债