Student Exchange Programs

OK So here’s the deal, I had a business contract with a guy that was broken and it cost me $30k (I had handed my online business which made $40k a year to him under contract to manage it in exchange for a portion of the profit)…after this I investigated him and found out he had scammed others to the tune of $50k+ over the years….like a handful of folks paid him to make a website for him and he took their money and never made the site and never refunded their money…among other scams he has done…

Here’s my question is it blackmail or extortion for me to threaten to contact the FBI about this if I give him a chance to resolve or settle this matter and he doesnt?

In my mind what he did was fraud and there are other cases of it to back this up…Any Lawyers or Law Students care to offer an advice aside from “get a lawyer”?

Thanks
Considering all of the others he has scammed are in multiple different states wouldnt the FBI be the one to contact?