I think that when they check the books and see what value can be...

I think that when they check the books and see what value can be raised versus what was paid, and all the implications of wasting shareholders funds on overpriced baubles, bought without Due Dilligenge, from purveyors of shiny goods, then the truth will hit home.
The directors were not naive when they bought without Due Dilligence. They were overfilled with their own self importance, and as such, deserve persecution and prosecution.
What about the sellers of shiny baubles?
They have walked away untainted, cashed in their scrip and gone on to greater things.
Beware holders of paper in these ventures, because, as day follows night, they are still out there, perpetrating the same tricks.
Beware MH MW etc.