schadenfraude

1. The pleasure a victim derives from knowing when a fraudsters scam has gone tits up
2. A fraudsters outward appearance of joy and sang-froid even when events are conspiring to unravel their con / ponzi scheme
3. An oxymoron of the feelings experienced by the fraudster when his empire collapses. Priceless

A wave of schadenfraude washed over fraudster as he watched the horse win its big race. The outward displays of celebration and sang-froid were in stark contrast to his inner feelings of dread resulting from the knowledge that he had oversold the horse and didn't have the money to pay all the owners their winnings.