He is doing this to deflect blame from himself as a negligent parent or facilitator (with money?) and from potential civil lawsuits that would break him. His lawyer probably figured out this tack.
I recently saw a quote that goes something like this:
Every lie is two lies. The one you tell others, and the one you tell yourself to justify it.
This dad needs a dose of hard, cold truth because when dads do their jobs right, kids rarely go wrong.