There needs to be a full investigation. My thinking is there has...

There needs to be a full investigation. My thinking is there has been an absolute minimal amount of work going on and that all the inflated administration expenses were some form of money recycling.
NET has run out of money, promises and innocent investors to trust the CEO.
The money go round has crashed. Just like a pyramid schemes. The rent on the illustrious head quarters in Darlinghurst are now being paid out of the pocket of the CEO which must antagonize the free loading CEO that lives there at shareholder expense.
When the suspense period limit of 2 years runs out NET will go into administration with absolutely no assets and a storm of trouble for the CEO to pay back debts. Some of the creditors will be rather angry.