Chanticleer
Forum Finance knew its stuff
The collapse of Bill Papas’ Forum Group has raised some searching questions among bankers who were presented with documents that looked authentic but were found to be fictitious.
As bankers sift through the wreckage left behind by alleged fraudster Bill Papas, they are discovering just how good his Forum Finance was at presenting documents that looked authentic.
The Federal Court heard last week that documents supplied by Forum Finance underpinned about $285 million in leasing finance supplied by Westpac, as well as another $115 million in leasing finance from Sumitomo Mitsui and Societe Generale.
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