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This is a very difficult question for me to answer, since I don't know how seriously you take his threats (although, if he pointed a gun at you, I'd say it sounds pretty serious), or how much money was involved. I can say, however, that if you report it to the police, it is likely he'll be arrested. If he's convicted, he'll likely be ordered to pay you restitution, but I would have serious doubts whether this person has the money to pay you back. In my experience, people who commit crimes like this usually don't have a great deal of money.
As far as your concerns that you committed a crime, that depends on whether you knew he was doing anything illegal. In order to be a party to his crime, you must be aware of his criminal activity. Being innocently duped is not enough to constitute a crime on your part.
Like I said, if you were unaware that he was engaged in illegal activity, then you did not commit a crime. If you though this was a legitimate way to make money, you should not have anything to worry about from the police. If you were aware this was illegal, and there are messages to support that, you may get in trouble for it.
If you didn't actually follow through, you are unlikely to get in any trouble, especially if you are the one to report it.
I hope that answers your question. If not, feel free to ask follow up questions. If so, please remember to "Rate" my answer before you go.