Most Recent
Forum Group's liquidators are seeking to wind up an entity owned by founder Bill Papas that received over $2.6 in "loans" from the alleged fraudster, as they work to recoup almost $400 million allegedly defrauded from three banks.
The former chief financial officer of beleaguered Forum Group has been dragged into a lawsuit by Westpac seeking to recoup $294 million in funds paid into an alleged fraudulent scheme.
Forum Finance director Vincenzo Tesoriero wants to strike out Westpac's claims against him and has told a court he too is a victim of alleged fraudster Bill Papas, having sunk up to $9 million in the company.
The Federal Court has issued an arrest warrant for Forum Finance founder Bill Papas for contempt of court for allegedly transferring $720,000 out of one of his companies in breach of a freezing order.