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Can't speak to the first part, it's definitely possible, but what I'm going to say next makes it less likely.
They were likely never his billions. He was most likey a cutout, used by various intelligence agencies. Both as a source of blackmail material/asset development, as well as a means to move money around, off books.
The guy was a legit idiot and was, ironically, groomed by powerful men to be inserted into his "life" as an "investor".*
*These parts aren't conjecture, or opinion. His lack of intelligence is well documented, as is how he was placed on the path of being an "investor" for the ultra wealthy and powerful.
From the reports I read he would use his blackmail on the marks to acquire that money and power. It doesn’t take a genius to blackmail people in his honeypot scheme. It makes total sense when you see how Israel seems to control our country. Trump saw the scam and is why he’s still not in Jail. Trumps a conman not a billionaire, but he’s protected as if he were
It really doesn’t. There was a guy near me pimping his daughter and extorting some tech guy for millions who got busted. I know the family, dude is illiterate.