ASX Changes Listing Rules, page-39

Re: "If the company was obviously fraudulent or ponzi then you could also argue the same point that the investigation would have already been wrapped up by now."

This is an extremely mis-informed claim. The legal system takes a long time to complete its work.
As an example, Richard Evans previous encounter with the legal system for behaviour during the period November 2004 to January 2006. It first appeared before the court in June 2007, and was not finalised until April 2008.

Reference: https://www.comcourts.gov.au/file/Federal/P/VID578/2007/actions#;