Hes throwing our friendship away for a girl hes just met what shall i do ?

i need advice how does this sound. im close friends with a guy and 8 weeks ago he met a girl online-i think theyve met up but hes lied to me and told me shes from england, is staying with him etc . the other day he asked me to send an email for him and i saw an email she wrote. they send loads of emails and texts to each other always saying love you (he denied he loves her ?) now ive discovered shes not even here ! shes was moaning about not eating and needing money for medication and hes sent her �300 and now $550 for her airfare here. hes already taken a payday loan out and has had to renew this but hes denied it all-he says he never gave her money, that she lives here etc. im so hurt and angry we had a big row yesterday-he said i accused him of lying but he is and ive helped him no end with work, money and being a bloody good friend. i was worried he was being played but now he chooses to ignore me as and when im so distraught what should i do ?