Been reading up on this guy. It sounds like the number 1 reason for him committing fraud on such a gargantuan level was so he could live a lavish lifestyle and show up the kids who bullied him at school.
On one hand, this is an example of the fallout that can result from kids being bullied. On the other hand, it makes no sense to dedicate your life to breaking the law and getting into trouble because you needed lots and lots of money to buy things you didn't need in order to impress people you don't even like.
At any rate, it seems evident he was humbled by this experience and I am sure it will make him a better person in the end. At least let's hope so.