As far as being removed from his Mod position, I think that is up to Goob to decide since its his forum.
As for the money, I don't think there was any malice intended and I believe he had/has every intention of paying everyone back. I have dealt with Mike several times and would lend him money since I believe he is a good guy. If I had the money to bail him out and make him good on what he owes I would in a heartbeat. You know the sayings "when it rains, it pours". I believe it applies to people like Mike, Disturbed, and some others. If it wasn't for bad luck, these guys, whether it is their fault or not, wouldn't have any luck at all.