In the meantime, Ponzi had hired a publicist, William McMasters. However, McMasters quickly became suspicious of Ponzi's endless talk of postal reply coupons, as well as the ongoing investigation against him. He later described Ponzi as a "financial idiot" who did not seem to know how to add. The "denouement" for Ponzi began in late July, when McMasters found several highly incriminating documents that indicated Ponzi was merely "robbing Peter to pay Paul". McMasters went to Grozier, his former employer, with this information. Grozier offered him $5,000 for his story, which was printed in the "Post" on August 2, 1920. McMaster's article declared Ponzi hopelessly insolvent, reporting that while he claimed $7 million in liquid funds, he was actually at least $2 million in debt. With interest factored in, McMasters wrote, Ponzi was as much as $4.5 million in the red. The story touched off a massive run, and Ponzi paid off in one day. He then sped up plans to build a massive conglomerate that would engage in banking and import/export operations.