The douche is just trying to get accepted. They'll change their payment info before checks are cut and hope to have outfoxed the application system that was denying them.
It usually never works for the fraud publisher, since most accounting teams will flag it when a name change pops up. You might get contacted by a network that knows you and wonders what is going on. Worst case a network might inactivate or hold payment on all your accounts thinking they were all fake or its a ring of some sort. I'd be worth giving a heads up to any networks you do work with so that doesn't happen.
I just had it happen to me with Copeac. There's no question in my mind that it's one of the smaller networks that have gone under. Only problem is that I slip with keeping track of exactly who we are registered with.