It all sounds like a madeup story to me . Talking about "FAKE ACCOUNTS" , you got to know your targeting . If you are not targeting right and getting fans who are not interested in your stuff , you will not get good response and call them fake .
Coming down to the budget part , He had a budget of $600000 and he spent around $640000 according to him. I have never seen an agency/individual crossing his marketing budget when he is not getting a good ROI .
Talking about and UNPAID BILL OF $379000 , what kind of account he holds ? Mind telling me it was a daily limit account , a threshold account or what ? In any case , I don't think any advertising company (specially Facebook) will allow such a huge unpaid bill.
Facebook's tracking is pathetic I agree on that .