I would be more concerned with people that thought investing in him was a good idea.
So if you buy 10% of him, he leverages the money and acquires $10 million in debt, he skips town, do you now owe his creditors $1 million?
From a legal perspective, the whole scheme is unenforceable. It’s basically a contract for indentured servitude. But a fool and his money are soon parted . . .