And it should be noted, that based on the replies here and the feedback, it sounds like he might not be a liar anymore. Hopefully he's seeing the issues that his employees have to put up with when he puts them into this kind of situation.
So he has gained some personal growth from this event. All's well in the long run, but its difficult to make up for broken trust.
Obviously, he's a liar to his business partners, his customers, and his employees. But right now, he isn't a liar to us quite yet.