Fred knew what he was doing and knew how to do it well. He was trying to make himself look good by conning people by saying that he has done good and that he has changed. People like that don't change they like what they do and like what they get out of it.
I have a step brother who cons many people out of their money and I know that he has no remorse for the people he hurts. He has conned businesses, customers when he had a job, and the govt out of money and people like him will never change. They like the high life and the stuff they get wiith all the money which is sad. Knowing that all these people that do get conned are hurt in such a big way.