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I think he was trying to make a living on his own, as he was 57 and his resume shows that he didn't have a lot of stability in employment. At 57, he wouldn't have very many lucrative options in the workforce, given his background. Since his wife also worked at the security company, I think it was legitimate, but probably not successful.
This video has a lot of information, including about the security company. It was in startup mode and hadn’t been fully launched. He was working on getting it started according to the friend of forty years.