I'm not sure how you have gotten to that point.
Why should it follow that EM has been taken for a fool?
You can look after your own interests without breaking the law; you can influence the decision making process so that you benefit, also without breaking the law.
I'm perfectly sure that at the time of his appointment the subject of conflict of interest would have been raised, most probably by Chairman Tom himself, if he is as smart as he claims he is - another bit of gossip.
I do not think he will go down as one of our more popular Chairmen, if what I have been told is in anyway true - offhand, dismissive, lacks empathy, and a few other remarks I would rather not repeat.