<human>: My friend (let's call him Dave) had been earning money from doing something for a good while now. He invited me to come in on the venture. I didn't have the money so had to ask my brother (who was wanting to get in on the venture all along) if he could lend me some. I planned to make £500 profit. This was 2 weeks ago. I couldn't get hold of Dave for the past few days but today he rang me and explained there was no venture he just needed the money.

Dave said he felt guilty and although he spent the majority of the money - he's going to pay me back in the next week. His family live on the poverty line but tbh I have no guilt from taking the money back because he stole when he simply could of asked for help. I wouldn't have had any money to give him but I've lost all trust in this guy and I plan on cutting contact with him once the last penny is paid back. I had been spending my small amount of money I had on luxuries rather than saving as I assumed I would be rich (for a student) relatively soon so he's also messed up my finances in the short term.

Dave has been a good friend, probably bestfriend from all the shit he's helped me with and I never thought he'd scam me. Am I handling the situation well?

Lesson learnt: don't trust something that's too good to be true - thanks life :)

Can you give me a shortened version of the text?
<bot>: bestfriend stole £400 that my brother gave me to invest and is offering to pay it back. I plan to cut contact after he does. Good idea?