Well he's also a bear about 'his' own product. He doesn't believe in altcoins, he wants them dead. If he was able to keep up the façade, hold it out till the exchange then he would've been able to schwindle many post-ico buyers in this scheme.

I think that was his plan though. But things behind the scenes started unravelling and that's how he dumped. 

It's kind of frustrating in a way. To lose money to such a doofus. Could've been the crime of the decade, century even. But then again, maybe it's good that these sort of characters aren't actual masterminds.