The Greek Professional Sports Committee has ruled that alleged fraudster, Bill Papas, does own Greek football team Xanthi FC, despite earlier telling an Australian court the opposite.
In a statement, the committee said “there was no illegal transfer of the shares” and “the data so far do not show the illegal origin of the money, which was allocated for the increase of the share capital of PAE Xanthi.”
Xanthi FC welcomed the news in a statement on its website.
“With the decisive contribution of the vice president of (Xanthi FC) and its legal representative, Fanis Ouzounidis, the truth shone before and any attempt to hurt our team fell into the void again,” the statement reads.
“We continue with even greater strength and faith the effort for the fulfilment of our goals and for the return of (Xanthi FC) to the position it deserves.”
According to The Australian, Mr Papas was dragged before the committee late last year to explain statements he’d made to the Australian Federal Court attesting that he’d sold his shares in Mazcon, the company which owned Xanthi FC.
Mr Papas later told Greek media he “did not deny the authenticity of this document” but claimed “that a statement made in the context of a civil case in an ongoing foreign court does not mean that it is true.”
Westpac and two other lenders, Société Générale and Sumitomo, filed Federal Court civil action against Mr Papas last year, alleging he and his company Forum Finance orchestrated a $500 million fraud against the banks.
Mr Papas’ court case is expected to be brought to trial at the start of June.
Source: The Australian.