Where is the evidence of anybody being tricked into investing money? If he’s just wasting his own money, all he’s wasting of ours is our time, and only as much was we let him waste.
I bet there were times in most inventors lives where people around them thought they were crazy. I bet there’s lots of “inventors” who were crazy, and never invented anything useful. But I’m not going to worry about the crazy inventors wasting my time, lest I miss the one that really invented something nobody was crazy enough to think about.
Part of this type of con is to make sure that no one else knows that you were given money. Without a trace if possible.
The less evidence there is that you were given money, the more likely you avoid prosecution.
Also, everyone heard you say it is your own money and you didn’t want their money.
Makes a nice defense in court with lots of witnesses for you to call.