Bill Papas spotted relaxing in Greece as judgement day looms on fraud case


Alleged fraudster Bill Papas has been spotted relaxing in Greece just days before an Australian court set a judgement date for his $500 million Forum Finance alleged fraud case.

Papas has been overseas since June 2021 after he fled Australia for Greece after Westpac discovered an allegedly massive fraud perpetrated on the bank through allegedly fake asset financing agreements.

Westpac claims that Papas’ Forum Group orchestrated a fraudulent lease scheme, resulting in the bank, Societe Generale, and Sumitomo Mitsui Banking Corporation handing over $500 million for printers, office equipment, and waste digester machines that allegedly didn’t exist.

The alleged scheme went undetected for years because Forum consistently made lease payments, only coming to light after a customer inquired about their loan headroom with Westpac.

Papas allegedly sketched out the fraud in a notebook, which was seized during a raid on Forum’s office by lawyers. He also allegedly used some of the money from the Forum fraud to purchase luxury properties in Greece and a Superleague 2 team Xanthi FC.

Bill Papas (President Xanthi FC), Tony Popovic and Damon Hanlin (former Board Member Xanthi FC).

On Wednesday, the Federal Court of Australia confirmed it would deliver judgement on the Forum Finance case in October 2024, about 20 months after hearings finished.

A court spokesman said the delays in delivering a judgement on the case were due to Justice Elizabeth Cheeseman sustaining serious injuries in a car crash shortly after arguments concluded in February last year.

Throughout the whole fraud case, Papas has remained overseas and is currently enjoying a Greek summer – as evident from pictures obtained by The Greek Herald.

Bill Papas in Greece
Bill Papas has been spotted relaxing on a beach in Greece. Photo copyright The Greek Herald.

The outcome of the case could set in motion further efforts to recover funds from companies in the Forum Group or associated with figures within the business.

NSW Police have also held an open file on the alleged fraud, with the fraud squad awaiting the outcome of Justice Cheeseman’s judgement.

Source: The Australian




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


Latest News

Turkey pushes for recognition of occupied northern Cyprus in parliamentary resolution

The Turkish parliament passed a resolution urging the international community to recognise occupied northern Cyprus as an independent state.

From Cyprus invasion to SA politician: How Andrea Michaels’ tough upbringing shaped her

Andrea Michaels MP gives an interview to The Greek Herald to mark the 50th anniversary of the 1974 Turkish invasion of Cyprus this year.

Hellenic Club of Canberra awarded Woden Village development

The Hellenic Club of Canberra has been named the successful tenderer for Woden Village with sale contracts exchanging.

Oakleigh Grammar accepted for Round Square candidacy

During the Term 3 commencement assembly, Principal Mark Robertson announced Oakleigh Grammar as a Candidate School for Round Square. 

Greek Community of Melbourne’s camp program is expanding to Attica

The President of the Greek Community of Melbourne, Bill Papastergiadis, met in Greece with the Governor of Attica, Nikos Hardalias.

You May Also Like

Ange Postecoglou’s Tottenham fall to West Ham in Perth

Ange Postecoglou's managerial debut at Tottenham got off to a rocky start in Perth, as the football club lost 3-2 to West Ham on Tuesday.

Sophie Cotsis: Berejiklian Government ignoring repeated warnings to defend against cyber attacks

“The Government cannot be trusted to defend the personal information of its citizens,” Ms Cotsis said.

Eight International Summer University to be held in Kastellorizo

The University of Ioannina launches 8th International Summer University set to take place on 10-15 July, 2022, in Kastellorizo