...Is there any way we can report his website so it gets taken down ? As I'm sure there are a lot of scared/desperate people who will believe his story and get scammed out of their money. ..
In order for the domain to be disabled, you can try contacting ICANN with a complaint about the site content. You can read more about how to do this here:
https://www.icann.org/compliance/complaint See the section for filing a complaint "Spam, Phishing & Website Content". But it takes a long time and the result is not always positive.