He doesn't have to sell his shares. He just won't be allowed to run it for a while. He'll lose control forever if he sells them. He won't want to do that. With his shareholding he'd leave the company open for a takeover if he put his holding on the market.
Given the time it's taken to bring this prosecution in play, and given there are no substantial claims against him after the conduct alleged, I think he'll get away with a fine.
He doesn't have to sell his shares. He just won't be allowed to...
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