A judge has told Forum Finance director Vince Tesoriero to “revisit” evidence about his true financial position if he wants to win the release of $1.25 million to pay for his defence in Westpac’s fraud case against him, amid concerns about whether he has made full disclosure to the court.
Viagogo has lost a bid to overturn a $7 million penalty handed down after a judge found the ticket reseller misled customers on an “industrial scale”.
Bill Papas’ girlfriend Louise Agostino has hit back at Westpac’s lawsuit accusing her of involvement in the Forum Group director’s alleged $294 million fraud, denying all allegations and arguing that the bulk of the bank’s claims against her should be struck out.
A lawyer for Forum Finance director Bill Papas has argued the alleged fraudster should be able to shield documents held by his former lawyer under a claim for legal professional privilege despite being a “fugitive” from contempt charges.
Westpac has yet to commence extradition proceedings against Forum Finance director Bill Papas due to concerns that the alleged fraudster may face only contempt charges if he is brought back to Australia prematurely.
Forum Finance director Vince Tesoriero has lost a battle to stop receivers from selling luxury properties in which he and Bill Papas hold a stake pending the outcome of Westpac’s fraud case against him.
Forum Finance director Vince Tesoriero has raised concerns about the validity of the sale of a $4 million home in Sydney inner-West suburb Rozelle where company founder Bill Papas and his girlfriend lived, but a judge has indicated any attempt to block the sale would be “hopeless”.
The Federal Court has issued a worldwide freezing order over the assets of Bill Papas’ partner, which includes the proceeds of the $1.13 million sale of her home in Sydney’s inner west.
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.