A class action lawsuit could be interesting. While it would be impossible to collect damages from a company with no assets, the plaintiffs might find, through subpoenaed emails and records, that the CEO was personally aware that the company was taking money from customers after knowing the company couldn't deliver its product. If so, would they be able to sue the CEO for fraud and go after his personal assets?
This article suggests that owners of a company can be sued for acting in bad faith, such as when "the corporation is used to incur debts far exceeding the corporate resources with no intention of repaying the liabilities":
https://info.legalzoom.com/can-person-owns-corporation-sued-...
