CEO of Forum Finance and football personality Bill Papas, believed to be at the centre of a $300 million alleged fraud, is thought to still be in Greece, despite his lawyer telling the Federal Court he was slated to return to Sydney last Saturday.
The Australian Financial Review sent a photographer to Sydney International Airport for the arrival of numerous flights, including the only Japan airlines flight arriving in Sydney last weekend, a flight from Tokyo on Sunday morning, as well as an Emirates flight from Dubai on Saturday night. Emirates is a codeshare partner of Japan Airlines.
Bill Papas was not seen amongst any of the arriving passengers who were accompanied onto buses to travel to hotel quarantine.
Mr Papas, together with Forum Finance, is named in court documents whereby the equipment leasing group allegedly used false invoices and forged signatures to obtain Westpac loans, without the consent of at least seven of the major bank’s corporate clients.
The disclosed amounts of possible losses for Westpac associated to the fraud could run up to $300 million.
On Friday, a voluntary administrator was also appointed to various companies related to Forum Group, presumably by Mr Papas, given he is the sole director of these companies.
After missing a deadline to respond to a Federal Court claim, Mr Papas’ lawyer told the court he was in Greece and planned to fly back to Sydney on a Japan Airways flight over the weekend.
It now appears Mr Papas did not travel to Sydney. Mr Papas’ location has been unknown since mid-June when, in line with court filings, he claimed to be in a Perth hospital.
Mr Papas has failed to file a defence or challenge any of the allegations against his company
