Thanks so much for caring and replying, gayleggg.

I've talked with a couple of people about the situation and everyone says the same: try hard not to feel guilty because I did my best I keep repeating that in my head but a guilt remains that I offered to help him financially in the first place.
When I posted, I was a hot mess. I was in a total panic. Now that I've had some time to calm down, my brain is functioning again and I can see the ridiculousness (is that a word? lol) of the situation. I have no way to verify his story. The whole thing could be a crock. And even if it's not, I know that he has a relative that he can turn to for help if he's in the dire straits he's claiming.
I made the decision to cease communication with him and in doing so, it has relieved quite a bit of my anxiety. As much as I don't like ending relationships on such a crappy note, I gotta do what I gotta do to preserve my health and sanity.