Considering he controls both firms, keep in mind he could even offer to split the fees, or offer to pay 90% of the fees. Then it sounds pretty generous instead

Considering he controls both firms, keep in mind he could even offer to split the fees, or offer to pay 90% of the fees. Then it sounds pretty generous instead of shady... At the end of the day, this scam works because someone confidently tells you over video that he wants nothing more than to invest 10 million dollars and the only thing that would possibly stop him would be that if due diligence discovered fraud at your startup. It'll keep working, and it's basically because people aren't used to dealing with conmen who are willing to look you in the eye, shake your hand, etc.