One of my sites have been banned due to "wrong placement of ads". I had asked for reconsideration by filling in the form and making changes. But I havent received any response so far (more than 7 days). Should I wait longer or lose hope?
Never heard of wrong placement of ads ban. What exactly did they tell you? Maybe you had wrong something, but wrong placement of ads shouldn't matter where you place them. Doesn't make too much sense.
Do you mean your account or your site? If it's your account, forget about it, you are not getting it back.
Wrong placement of ads ban is usually when Google think you are placing ads in places to gain false clicks. for example like next to a next page button, submit button etc without any spacing. If this is the case you can usually kiss you account good bye
Not really true, my friend got banned some years ago, and he got it again, and now he got lot of payment.