Alleged fraudster Papas faces criminal charges

Alleged fraudster Bill Papas faces his first round of criminal charges over his issues with Westpac – that is, if anyone can find him after the former Greece-based Forum Finance boss has closed his email accounts overnight.

For the first time in its civil case against Mr Papas, lawyers for Westpac have raised the possibility of filing a request to have the football’s colorful identity found in contempt of court for violating orders to freeze actions .

Bill Papas and his incredible alleged fraud have included race cars, luxury houses and overseas assets.

The Federal Court learned on Friday that Mr. Papas is suspected by Westpac of continuing to trade a stock trading account held by his company Palante after the freeze orders came into effect in July.

Age and The Sydney Morning Herald revealed late last month that Westpac was exploring Mr Papas’ stock trading business through his online trading account with online broker MacroVue, fearing he had invested allegedly defrauded millions of dollars by three lenders in the equity market.

Westpac and two other lenders – Societe Generale and Sumitomo – have accused Papas and his company Forum Finance of orchestrating an elaborate fraud by impersonating some of the banks’ biggest clients to establish fake contracts with forged signatures .

Mr Papas left Australia in June and lives in his beachfront apartment in Thessaloniki. He engaged with his lawyers, Westpac and liquidators on a Gmail account and recently attended a soccer game for Greek soccer club Xanthi FC which he owns.

Westpac attorney Jeremy Giles, SC, told the court that Westpac’s attempts to serve Mr Papas with a suit to be found in criminal contempt of court were thwarted in recent weeks after the Mr. Papas’ lawyer has ceased to act for the former Forum Finance. chief.

Federal Court learned on Friday that Papas suddenly closed his Gmail account on Thursday as Westpac legal teams attempted to send him information. The court heard Westpac attorneys successfully send two emails to Mr Papas’ Gmail account on Thursday, but a third email on Thursday night bounced back.

“We received a rebound last night,” Mr. Giles said. The Age and Herald also received a notice from the previously functional email account on Friday: your message was not delivered to [Mr Papas’ email] because the address cannot be found or cannot receive “e-mail”.

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