Thanks everyone for inputs.

It has been quite difficult diagnosis, we first went to counsellor when this person was 13 years old with behaviour issues and an IQ test revealed Borderline Intelligence. I was not entirely convinced that intelligence was that low as this person could easily lie and act smartly when money was needed or something was required.

As age progressed, there was aggressive and voilent behaviour as well and we were told that it seemed like Bipolar as well along with low IQ.

Although we have hardly ever seen depressive phase, most of the times it mania. Symptoms like staying out late, aggressive behaviour, spending like anything, wanting more money, meeting strangers, wanting to be an actor and searching and talking to them over social network with people having fake profiles.

When mania comes down then spending, aggressive behaviour and staying out late night goes down but talking to actors over internet and strangers doesn't really end and it continues with some level of control.

It baffles me why this person cannot realise that these people are fake despite being very smart at times.

Sometimes i feel that it could be that stronger medication is needed as mania may not have gone away completely, so i asked how long mania can last.
Then i feel could it be IQ but then with low IQ how is this person so smart at times that people say this person is playing tricks.

Counsellors and Psychiatrist say it could be combination of both which really leave me in a hopeless situation with not knowing how to control it.