The Managing Director at the time of purchase should be charged...

The Managing Director at the time of purchase should be charged with not doing what's best for the company, but rather feathering his family's pockets. He was employed to manage shareholder funds. Failed miserably and should have been in jail. Rather he just employed a new MD, on way over going rates, and set up consultancy arrangements for all the family members. ASIC don't give a f*#k because they pay membership. They didn't want a Joint Venture milling arrangement because that would risk someone else seeing the scam they've been running. Or more likely no one wanted to be involved with them.
To all the people that are here on HC and other sites to warn potential victims not to invest, keep fighting the good fight. Don't let the criminals win.