Win for Banks Over Fugitive’s ‘Audacious’ $500 Million Fraud

Win for Banks Over Fugitive’s ‘Audacious’ $500 Million Fraud
Westpac Bank signage is displayed on a building in Sydney on 13 July 2006. Greg Wood/AFP/Getty Images
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Disgraced entrepreneur and prominent soccer identity Bill Papas was on a plane to Greece soon after Westpac and two other banks discovered a more than half-billion-dollar fraudulent scheme.

Associates from the Forum group of companies, which were headed by Papas, were left to clean up the mess he left after the firms used falsified equipment finance invoices to rip off the lenders.