That'd be the (perhaps too) generous thing to do, but there's no evidence at this point that he has any interest in doing that. You said that he "fucked up", but there's zero reason to believe that the past tense and not the continuous present is appropriate here. To my knowledge, he's never offered an apology, an acknowledgement of wrongdoing - either in his predatory business model or his mendacious self-promotion - or a promise to do better. The last word we have from Mr. Allred is that he believes that everyone who criticizes him is a "hater" who's just too stupid to appreciate his genius.
The message of turning the other cheek is beautiful, but perhaps a little impractical to those of us who aren't totally Christ-like all the time, and - in the context of a conversation discussing clear wrongdoing - a little banal. We're not single-handedly going to stop him from doing whatever he wants with Bloom but we should say, very loudly, that until further evidence arises his history implies that he's not to be trusted and advise everyone within a hundred yards of him to be wary.
Oh hell no. He gets my empathy, sure. Empathy is good for a cup of hot cocoa and a hug if he shows up at my doorstep in tears. But give him more chances to perpetrate fraud after he's been so thoroughly exposed? Hellllll no.
There's a big difference between an honest mistake and a dishonest one. Given the harm he's seemingly caused people through the dishonesty, it doesn't make sense to give him the opportunity to continue lying and harming people
Edit for typo