Victor runs a corporation in which he owns $97\%$ of shares and is the one and only employee. The corporation he runs is a trading platform in which customers keep funds deposited, both in cash and assets such as stocks. Victor employs a few unorthodox methods in his business, including misrepresentation of assets. commingling of customer and personal funds, among various others that he hopes will give him a competitive advantage. On a trip to Vegas, Victor lost a significant amount of money gambling and had the great idea to attempt to win it back using customer funds, which resulted in the loss of a significant amount of customer funds. Due to Victor's company being undercapitalized, the affected customers received significantly less than they lost when they sued the corporation for fraud. Victor still has personal assets worth more than the liabilities of his corporation. Can the victims find Victor personally liable and receive these assets?

Yes, the corporate veil could be pierced.

Yes, corporations never provide limited liability.