Alleged fraudster Bill Papas spotted in Thessaloniki

·

Bill Papas, the man at the centre of what may be one of Australia’s largest bank frauds, is living in Greece’s second largest city Thessaloniki.

An investigation by AFR Weekend revealed the first evidence that Mr Papas is in the coastal city of Thessaloniki, with a woman who appears to be his girlfriend, Louise Agostino. There is no suggestion Ms Agostino, who has worked at Forum Group and other companies within the portfolio for nearly a decade, was involved in any wrongdoing.

AFR Weekend worked with journalists and photo-journalists in Greece to track Mr Papas down to an apartment block with views of the Thermaikos Gulf, where he owns two properties close to the Thessaloniki city centre.

Alleged fraudster Bill Papas spotted in Thessaloniki. Photo: Australian Financial Review Weekend

Mr Papas and Ms Agostino were seen returning to the apartment around 1.30pm on Thursday (Greece time), and spent time in the afternoon on his balcony around 3pm.

His solicitor told the court Mr Papas had refused to identify where in Greece he was.

Later, his barrister told the court Mr Papas had contracted COVID-19, which prevented him from returning to Australia two weeks ago to face the allegations against him and various entities within his Forum Group of Companies.

Mr Papas is no longer in isolation, his barrister told the Federal Court on Thursday, after testing positive to COVID-19 on July 8.

The 49-year-old is named along with Forum Finance in court documents alleging a scheme to defraud Westpac by presenting false invoices and documents for financing.

The bank says its total exposure could be as high as $285 million and has told the sharemarket it could shave $200 million off the bank’s post-tax profit.

Source: AFR Weekend

Advertisement

Share:

KEEP UP TO DATE WITH TGH

By subscribing you accept our Terms of Service and Privacy Policy.

Advertisement

Latest News

Pontoxeniteas NSW celebrates community, culture and generosity at 2025 Winter Wonderland

Celebration swept through The Grand Roxy on Saturday, May 31, as Pontoxeniteas NSW hosted its spectacular Winter Wonderland Gala 2025.

GCM prepares for AGM as Board elections and revenue outlook take centre stage

The Greek Community of Melbourne has officially announced that its Annual General Meeting will be held on Sunday, 15 June 2025.

Raptis sisters left devastated as SA music school faces second government acquisition

Koula and Mary Raptis are “devastated and heartbroken” after learning their music school, Allegro Music, is to be acquired by the government.

Jon Adgemis vacates luxury Sydney mansion amid legal battle over his mum’s home

Disgraced former KPMG dealmaker Jon Adgemis has vacated the $20,000-a-week Point Piper mansion dubbed the "Bang & Olufsen house."

Australian Hellenic Choir delivers a stirring musical journey at ‘A Portrait of Greece’ in Sydney

The Australian Hellenic Choir captivated a packed Sir John Clancy Auditorium at the University of New South Wales on Sunday, June 1.

You May Also Like

Greece to propose Epirus’ Zagori villages as UNESCO Heritage Site

The northern Epirus region of Zagori will be vying for inclusion into UNESCO World Heritage Sites list, the Greek Culture Ministry said recently. “The Zagori villages (Zagorohoria) are the first Greek candidacy...

Egypt and Greece sign historical agreement on exclusive economic zone (EEZ)

Egypt and Greece signed an agreement on Thursday designating an exclusive economic zone in the eastern Mediterranean‮‮ ‬‬between the two countries.

South Australia commemorates OXI Day with doxology, wreath laying and poems

The Greek Orthodox Community of South Australia held a commemorative event of almost 200 people for ‘OXI Day’ on Sunday.