The fact of the matter here is that the operator (as you correctly assume) is flogging time.
It happens copiously in Australia and NZ and is nothing new. Unfortunately it is hard to prove as the maintenance staff will just say they were unaware and it must've been messed with elsewhere.
These operators are crooks and it is something that regulatory authorities must stop. One of the last piston operators I worked for admitted they used to log 1 in 3 while mustering. I have taken an aircraft out that showed 1.2hrs in the MR in place of 6+ hrs the day before.
The only way to catch them is through fuel usage but even then that can be attributed to ground running, using in cars, generators..........
Either CASA are idiots and turn a blind eye to this or they have never heard of the old pull the breaker trick. Often they wire it through the rotating beacon and when you see a robbie with it off, you can almost be certain that it's wired into the clock. This little trick works whether it is a 44 or a 22.
Welcome to the "real' world of aviation.