Can someone deny my ownership because money is "fungible"?

Question Details: I gave a partner money to buy an item which we would resell and then split profit. My partner bought it and sold it. He returned my capital but did not give me my share of the profit. Now he says that I never owned a share of the item because money is fungible, so in effect I cannot say that he used my money to make the purchase. If I give you money to buy something tangible, and you do buy it, is it true that I cannot say you used my money to buy it because money is fungible? That seems absurd. If it is not so and I can say he used my money, what do I say to assert my ownership?

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