60k "Staking" dispute

[The.Filth]

Okay. I'm a 5/10 grinder that has had some success in the past. I was "yoguh12" on partypoker back in the 10/20 days. This well known player asked me to borrow money. He said he was cash short at the time but had money. So I trusted him and sent him 30k. Then this came up a while later.

him: lemme throw this out there
him: I dont know exactly when these guys are going to pay
him: I would think in a week or two
him: instead of loaning me money
him: would you like some of my action and just BR me on FTP until I get my funds released?
him: stake me and I'll provide makeup if I lose
him: that way it's 100% no loss for you
me: whoa
me: what's in it for you though?
him: I borrowed 10k from someone else
him: and they are freaking out
him: that I'm playing 1 table of 25/50 ring
him: so it might be easier just to deal with you
him: and that way
him: I dont feel bad borrowing 30k from you
him: and I can play more freely
me: okay sure
me: sounds like a win win situation for both of us

So then this guy loses all 60k and said he's real sorry. Then I find out that he's not paying me back because I was "staking" him. I thought he just needed money at the time and would share half of his profits with me because I'm lending him a huge chunk of money and that he would pay me back when the people that owe him pay him back.

So what the hell? He says he was very clear that it was a "staking" and isn't planning on paying me back. But he was playing 75/150 deep stacked with my money. He sold off half the action but that's still a huge game for a 60k roll. I never stake anyone and definitely would not stake anyone to play so much higher than I do. I never take shots at bigger games and this is just giving me a huge headache.

Do you think it was clear that he was asking me to stake him and what do you think I should do?

Thanks for your replies.

Edit --

This convo is copied/pasted from my AIM log so it's verbatim.