Perhaps this was a real scam initially, then he decided to pretend it wasn't, after-the-fact, to save his skin? It seems to me that leaving a shadow of a doubt as to his trustworthiness was a big, big mistake. Couldn't he have just presented the hypothetical to the community openly if that were his true goal?
Maybe he woke up when he realized he will be killed by the mob of vigilantes that will stop at nothing until he is found. Your life perspective might change when you suddenly have 10,000 people out to kill you.
If it wasn't, I hope he documented it somewhere or let some friends in on the secret. If he has no paper trail that this was always a stunt, I don't see his explanation working too well. I hope he offers his investments back to those who want it.
