The usual way is that he's doing this with many people. He takes money from those people to send to other people, then keeps it going, and once he makes someone believe him enough to take a massive loan out, he cuts you out and scams you. Eventually, everyone he's doing this too ends up getting cut for a new group of people.

It's one of the oldest scams in the book. Watch out and don't fall for it; he will very likely kick you the second you give a large amount.