What I'm saying is that the amount of effort he'd have to put in to be running a ponzi like this would be insane. Ever for the short period he's been running BS&T, it'd be too much for most to be running a ponzi.
The only alternatives to a Ponzi are a legitimate business or some other illegitimate business. Of those three possibilities, a Ponzi probably takes the least effort and provides him the highest potential reward. I would love to hear what you think would be an alternative explanation to a Ponzi scheme that takes less effort.