It would be interesting to compare the traits of a "manipulator" versus those of a "narcissist." I expect there would be a pretty strong overlap based on the details you described above.

I've encountered several CEOs with narcissistic behavior that are often able to "win over" investors, for a time. When things eventually unravel, as they inevitably do, their ability to protect themselves from blame is rather masterful, and fits with the traits of the manipulator.

Unfortunately, business and politics seem to attract these types of individuals in spades.