Au contraire neville, everything done will meet the absolute black letter legalities of the law, comply with the applicable accounting standards, just as ENRON did. It is all hidden in plain sight.
It is the unintended consequences of complexity, inconsistencies, imprecision, ambiguous language that create loopholes in the myriad of accounting standards & legislation. Then add in multiple jurisdictions & the language & translation of regulations & standards on top of that. The problems are extremely sublime, subtle & manifold.
The globalisation of capital means it is back to the wild west where virtually anything goes with jurisdiction shopping. The rules no longer apply, if they ever actually did. Quite frankly, they can do, and have done whatever they want, and it is all completely black letter law "legal".
You might want to look into the history of the Sarbanes Oxley Act for a guidepost to the thinking. However, every written law will have complexities that allow clever lawyers to work around its clear intent & spirit. Remember, they get the cash first, and argue about who to pay latter. This gives them an enormous war-chest & advantage over everyone else.
Australia has weak accounting standards, and therefore companies are ripe for the plucking. I have a feeling the Australian public will get to see this for themselves in the not too distant future, and it will be a harsh lesson.