You said it yourself; the Greek system is big business. And no business, regardless of the industry, wants bad publicity smearing it's good name. And this was about as bad as publicity gets, so I'm not surprised that SAE dropped the hammer like it did or as fast as it did. What, after all, was there to investigate and what possible mitigating circumstances were there to what they were doing?
It’s a long shot but they could have gone the “therapy” route. The SAE National could have tried to save face by stressing their obligation to mold men, and they were going to see to it that these wayward lads received the best sort of therapy and counseling so that they don’t go down the wrong path.......