Seems like it would be pretty easy to find out whether or not it was a set up. I wouldn't be shocked either way.
In the end, if they were in cahoots, they weren't breaking any rules (none to my knowledge, maybe they did). That would be acting immorally though, which we all know the American gangster is inclined to do. If Chael didn't have the inside scoop, that just speaks further to his testicular fortitude.