These kind of investments are always risky. Just like Double Shah, there are many who promise a fixed return but actually are only waiting for the right time to go silent. They go to jail on purpose and pay a little amount of what they have gathered and come out without the investors knowing about it and spend their lives abroad. So even if one has to invest, a proper background check is required. If it is some XYZ company that you are hearing about for the first time, you don't even have to check to say NO! If it is a well known company, you have to check if the person asking for investment really belongs to the group or not.
Anyways, for your case there isn't much that you can do. Cheque will definitely bounce and you can file a case that will take a place on some shelf. Even in places like Dubai you can't do much with a bounced cheque. Sending the offender to jail won't return your money. We have at least 4 cases of bounced cheques pending in Dubai.
Even if you claim and the court decides to auction his assets, there are many people waiting for their recovery before you. There is a slight possibility that you may recover your loss, therefore never lose hope as it is going to be a very long procedure.
I pray for good health of your father. This is a tough time on your family that you have to pass with patience. Allah is Ghafoor ur Raheem and I am sure you guys would be compensated in a way or the other.