I also know of an EASA spec aircraft which was M Registered being leased to a Polish AOC who needed some capacity completely legally it was short term, the aircraft/ongoing maintenance was inspected as EASA compliant and could legally have been doing commercial ops for 12 months before being re-registered in EASA Land.
Probably the same as the 747-400 above - Jumbos are hard to hide
Looking at CFMU does not tell the full story and those who have a vested interest will no doubt jump to the biggest conclusions as in life..
But lets not let the facts get in the way of a good old fashioned witch hunt!