I had just downloaded the book today and noted that statement. She hasn't been found so any fund set up to find her has NOT been done fraudulently. I could imagine there were other reasons some people in the room went pale.
I find it hard to believe that people have never encountered conditional statements. If A is true then B is also true. If A is false then it follows that B is also false. It's a commonly used logical argument.
So the fund is fraudulent ONLY IF the McCanns were criminally involved in the disappearance of their daughter. Otherwise it's not. That's the logical argument Amaral used;
"
If they were involved in one way or another,
then a crime of fraud or abuse of trust is a possibility concerning the fund that was set up to finance the search for Madeleine."
Amaral, in this passage from his book, therefore, DID NOT say the parents were guilty. He DID NOT say the Fund was fraudulent.
Your statement, on the other hand is illogical. The fact that Madeleine has not been found has no relevance to the status of the Fund, because the reason she is missing could lie with her parents.