SAN DIEGO -- A man who is being called the Bernie Madoff of San Diego is being forced to answer to the people who said he ripped them off.

Federal authorities said Mohit Khanna stole nearly $70 million from more than 300 investors.

Khanna was at the federal courthouse Thursday to answer questions about where the money he allegedly stole ended up.

Tim Wynne, an investor turned alleged victim, told 10News that he lost $35,000.

"I've been face-to-face with the guy, and believe me, I was close to knocking him out just for everybody else," said Wynne.

Deborah Khazei was an investor and close family friend, who added, "What can you say to someone that can look you right in the eyes and lie?"

One alleged victim, Nick Schwartz, has autism and his parents wanted him to be able to take care of himself. Schwartz's mother Gail, who invested with Khanna, said, "How can you look someone in the eye knowing that you're stealing from innocence? These are children who are completely innocent. My son will never be able to completely support himself."

She added, "My concern was that he would be able to be taken care of after my husband and I passed away, and he looked me right in the eye with a smile on his face and said 'Thank you for trusting me with your money.' What he didn't tell me was his goal was to help himself to my son's money."

For the alleged victims, the trust is now gone, and as Khanna walked into court Monday many of his investors started to realize their money may be gone, too.

Khazei said investors' money went to "beautiful cars, convertibles, top-of-the-line BMWs, beautiful house, more rooms than they needed; I mean, what do you say to someone who has so much."

Khanna has not been charged criminally as an investigation is still being pursued.

He appeared in federal court over civil charges by the Securities and Exchange Commission. In court, Khanna asserted his Fifth Amendment right, 10News learned.

Federal authorities said Khanna has four computers full of account files from his investment business, but they don't have a complete picture of all the money going in or out.

Federal authorities said the believe $4.7 million is documented on those computers.