He may have cut a deal with the ATO, which avoids the really serious stuff, the ATO dont mess about, but I think its odds on that ASIC will launch proceeedings against him, and the company, given the admitted misconduct and governance shortcomings. That will cost millions and drag on for potentially years.
I would also not be suprised that if ASIC do launch proceedings, they will seek to ban him from managing companies. That is a common punishment ASIC seeks for directors that abuse thier positions of power at the company's expense for financial gain.
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