I'm sure he makes good money, but his need to represent more wealth than he has. The house alone must run 10-15k per month. 6000 square feet for 1 or 2 people.
It's also odd for someone who accumulate so much from investing, etc over the years to have terrible credit. Piana flies by the seat of his pants. He knows how to make money, then spend more. What fool buys 100 pairs of shoes or spends $600 a week on Cheesecake Factory?