I don't see how he's a Bernie Madoff.
His pictures are real and belong to him, I'm sure, so there's no cheating.
How much they're worth is really the business of the person paying for them.
If he is able to concvince people to pay millions for his photographs, then good for him.
I'm, pretty sure he's not conning retirees out of their pensions, and that those that pay these numbers are looking to throw that money away on anything.
If you're playing a big money game, you got to pucker up and spread some industrial grade BS.
In this case I see nothing wrong with anything he does.
His photographs are fine - not very exciting for me, so I won't buy them.