Dear Trying To Get Paid:
Thank you for your communication.
From your description, your boss Odin sounds like he has narcissistic tendencies, and may have received his education in a milieu that tolerates cheating.
Given his narcissism, it will probably not be possible to keep Odin happy without placating his every grandiose desire. I would suggest you seek alternative sources of funding as soon as possible.
You surely are right that should you continue to work for Odin, doing his bidding, your reputation will likely suffer over the long term.