HomeNewsAustraliaSecond luxury pad owned by Bill Papas sold in NSW

Second luxury pad owned by Bill Papas sold in NSW

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Forum Finance liquidators have sold the second NSW Central Coast waterfront property of alleged fraudster Bill Papas.

According to The Australian, McGrath Nicol liquidators sold the Wagstaffe property last week but there is no price advisory.

The property hit the market with a price expectation of over $10 million.

Belle Property agent, Cathy Baker, sold the five-bedroom home after 88 days on the market to an undisclosed client of accounting and tax firm, Ageis.

Bill Papas’ Wagstaffe property. Photo: centralcoastlifeandstyle.com.au.

This isn’t the first home by Bill Papas to be sold by liquidators this year. His other Wagstaffe property set a house price record in the area in February when it sold for over $13.5 million.

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.

The Greek Herald recently reported that Greece’s anti-money laundering authority has also had Papas’ shares in Greek football club, Xanthi FC, frozen.

READ MORE: Westpac hits a wall in extraditing Bill Papas from Greece.

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