I wouldn't wait more than 72 hours.
I just spoke with Michael on the phone. He stated you will be getting your money soon.
He knows he screwed the pooch and told me he fully intends to make reparations to everyone. May take him some time. This is what he told me and I can offer no further info as to what is stated above, except the following:
He seemed to have sincere regret of his actions (from what I could tell on the phone), but it's not my place to state the reasons or circumstances as to why he did what he did. He will have to come on the Boards and explain that himself, as he will need to eventually face everyone on the Boards and take his medicine.
I, for one, would welcome him back. I truly believe he is a great guy, judging from previous successful transactions and pm conversations. The fact that he is trying to make things right speaks volumes to me. I still remember the pics he posted of him fishing, and him with his parents. I guess, at this point, I'm more concerned for him than I am the money. I wish him well.
He knows he screwed up. He also knows people may not trust him again. He did relay to me he fully intends to make things right with everyone. I don't know if he will post here again before he pays everyone off, but I am sure once the dust has settled he will be back.