Bill Papas’ cousins Eric and Bill Constantinidis caught up in Forum Finance investigation


A Federal Court investigation into Forum Finance has now embroiled a corporate entity run by founder Bill Papas’ cousin. 

Court documents show subpoenas have been issued for companies Fort Matilda and Natave. 

Natave is a soon-to-be-deregistered company owned by Papas’ cousin Bill Constantinidis, which he says was set up as part of a commercial arrangement with Papas. 

Bill says action commenced in September to strike-off Natave after concerns about it were raised. 

Fort Matilda is a loan brokerage and investment company that dealt with Papas and his business partner Vince Tesoriero.

Eric Constantinidis, Bill’s brother, runs Forum Finance entity Our Kloud, which took over equipment leases from the initial Forum administrator in July and contacted customers to confirm their direct debit details. 

It’s part of Westpac and two global banks’ legal pursuit of Forum and Mr. Papas in the Federal Court over allegations of a $400 million fraud. 

The Federal Court on Wednesday moved to issue a warrant for Papas’ arrest and extradition in Greece for “repeatedly disobeying” court orders and seeking to avoid being served with key documents.

Papas fled to Greece in June around the same time Westpac lodged its proceedings against his company Forum Finance.

The court has since heard of credit card transactions by Papas in Greece including several luxury hotel stays.

Westpac’s barrister Jeremy Giles SC argued to the court that these transactions contradict Papas’ claims that he can’t afford to purchase a plane ticket back to Australia. 

“There is no basis, let alone a reasonable basis, for thinking that Mr. Papas is likely to return from Greece to Australia on any firm date,” Federal Court Judge Michael Lee said on Tuesday.

“His conduct in relation to this proceeding has been a less than satisfactory one, he has repeatedly disobeyed court orders for the filing of material and provided less than satisfactory to his solicitors.”

Forum’s liquidator McGrathNicol has begun selling assets as it seeks to retrieve funds for creditors. 

Source: MPA




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