Alleged fraudster, Bill Papas, has set a Central Coast house price record after liquidators sold his luxury Wagstaffe property for more than its $13.5 million guide, The Sydney Morning Herald reports.
This isn’t the first time the property has set a record for the Central Coast – it made history when it sold to Papas for $9.5 million in 2020.
READ MORE: Record price expected for Bill Papas’ waterfront holiday home.
The Hamptons-style, seven-bedroom residence is set on 2188 square metres and features a sandy beach, a swimming pool, boat shed, shared jetty and a mooring.
Papas’ other holiday home on Bulkara Street in Wagstaffe is also expected to hit the market in coming weeks with a $9 million price tag.
READ MORE: Greek authorities confirm Bill Papas owns Xanthi FC.
The majority of Papas’ Forum empire was placed into liquidation last year amid allegations in a civil proceeding brought by Westpac and two other lenders, Sumitomo and Société Générale, that Papas had presided over a $500 million fraud on the business.
Source: The Sydney Morning Herald.
