Joshua was the Chief Executive Officer and Managing Director of Throne Bank Bhd. He has a reputation for being an enigmatic, forceful and dynamic leader among those in the corporate banking world. Joshua was instrumental in the bank acquiring shares in Lovelife Sdn Bhd, a life assurance company. The purchase price for the transaction was unusually large for the bank but it appears that there was an evaluation of the transaction and the price was deemed to be a fair representation of the value of Lovelife. However, it has now been revealed that the acquisition of Lovelife was for an amount substantially in excess of Lovelife's true value. It has also been established that the company appointed to conduct the evaluation was one that belonged to Joshua's wife, Eunice. The bank has also discovered that Joshua also knew that the sale proceeds obtained by Lovelife Sdn Bhd would be used by Lovelife to repay a loan to Twilight Sdn Bhd, a company of which Joshua was the director and in which he and his family held a number of shares. Discuss Joshua's liability, if any, and if there are any defences that he may rely on.