So, there is a possibility that a huge partner of his ended their relationship as a result of some blackmail threat which was executed, as suggested. And why not suspecting a competitor?
I suppose that is plausible. He could have himself lured into a ponzi scheme in buying THs/GHs at even lower wholesale prices than what he offered to us the customers who are second hand casualties. The supplier could now be blackmailing him, threatening his safety and his family's safety if he reveals the sham that they are. In other words I think, he could be a victim of a massive loan sharking system that leant him a huge amount of btc and now they want it back with interest or else.
OK say that is what is going on. What would be the best response for PB customers then? I think it is we should be suggesting ways he can deal with the issues, if this were true. So maybe there really should be discussions on two levels here. One is to assume he is innocent sort of at least (if this is true, he probably smelled a rat from the start but went ahead with it anyway because as I will argue later he comes from big money and there are high expectations of him) and that he is now in way over his head. The other is he is some special kind of criminal and we can continue with that line here in this thread.
If for instance he was hoodwinked in some grand fashion, it might be because he comes from a wealthy social class where the truly big schemes are pitched to. My suggestion to him in this case would be to use his and his family's possibly considerable wealth to make this right on all sides and to accept the loss and the life lesson that comes with it. He can certainly pursue things legally against his blackmailers too if he knows how to do it safely but he should pay back at least most or all to his customers who put all this valuable faith in him during this year.