You need to bring him to answer where the money has gone.. To say that he lost it, is totally unacceptable.. Don't be fooled here, this is your money man!! as well as many other bowlers..
Get tough with this guy, otherwise he will get away with it...
Basically, where is the money? Did u get it out of the bank? Did u get a cheque, or numerous cheques for individual teams? We want to see bank statements?
Hate to ask, but is the guy a gambler? alcoholic? or in debt? There could be your most likley answer.. I know this as it happened to me in an old league..
Do not let this sleeping dog lie...