(1) I believe you'd be taking money, on a false pretext.
(2)If you do business with him, and don't get your money on the first deal, you'd be putting the shaft to yourself.
(3) I vote for "don't do business with him"
I really don't see how you could hold the "moral high ground", and still do business, with him.JMO I would confront him about the past deal,bet your last dollar on that.
That being said, I don't disagree with anyone on this thread.
GOOD LUCK