Yes this could seriously impact your mom's reputation and criminal record... If you sue the bank for not taking due care when issuing your online banking details, the bank could in turn sue your mother... It's best you talk to your mother to hand back some of the money and alert the bank of this...
Or instead his company could pursue Chapter 11 bankruptcy to re-organize its debts, and they would probably work out a reaffirmation agreement and you might have to lower the amount of money you receive from that company... This is seen in rare cases as the business owner might just try to...