It's distribution. Guy's got a brand name now. People and investors recognize his name. It's a lot easier to find an absolute quantity N of investor money for a fraudulent but well-known name than it is for an unknown upstart.

The fraud might have a low close rate but the top of the funnel is huge. The unknown upstart can't even get meetings.

His “brand” is “torching investor money.”

Still don’t get it.

He might credibly have access to federal bailout, too. That's worth something.