I think the implication is that by taking a fee, they were implicitly saying that work was done. But the investigation seems to be about whether they were actua

I think the implication is that by taking a fee, they were implicitly saying that work was done. But the investigation seems to be about whether they were actually doing anything with the money. Making a prudent decision to sit on cash when there are no good investments is one thing. Planning to defraud your investors is entirely another.