It looks bad, and it's probably true, but a couple of things ring alarms to me.

Full disclosure, I only watched about 10 minutes from the Fast Fwd point you posted.

The sped up audio of the phone conversations makes me think there's a chance they aren't authentic. As well as the fact that James is disclosing all this to one of his whistleblowers / moles. If I were running a business I wouldn't be disclosing every bit of my business to my employees.