He may have just played a game of chicken to compel them to actually appoint an independent board member, to be more open to partnering with a big pharma or consider an outright sale (as I've said on the board before), or maybe consider other things (like hire a real CFO).
If there really are bad people on the ONDRA team and NW had trusted them, it wouldn't take much for them to report back to him that there were some big problems in NWBO's management and make him nervous enough to want to bring in "the Feds". Doesn't mean he was in on any kind of conspiracy.
I don't know if you are correct. But no one can deny, its very plausible. These evil, cut-throat hedgefunds will do whatever they think necessary to derail NWBO. On that point, there should be no doubt. And.....they are not finished yet.