Ann: Review of Corporate Governance Arrangements, page-20

Yep agreed, the fictional expenses have probably been paid to a related company, where the spoils will be divvied up offshore and away from prying eyes. Classic white collar slight of hand, involving Australian identities of tainted character, conspiring with non residents, keen to live like wealthy westerners. Commonwealth of Australia has no hope of chasing this down in China, but it's a black mark on the Australian directors involved. If you see their name on another public offering, run. You have to do your homework, in this case, there were some warning signs.