Forum case set to expand as key figures subject to examination in Bill Papas probe

Westpac is set to bring the Forum Group case back to court on Wednesday, as court documents reveal liquidators are scrutinising key figures in the company.

Bill Papas at Xanthi Arena in Greece. He appeared last weekend at a pre-season friendly match for his Xanthi soccer club.

Federal Court fraud action seeking to claw back $400m in missing funds linked to the Forum Group of Companies has entangled two further managers and more may follow, as Westpac and other banks step up efforts to find the money.

A hearing has been set down for 2.15pm on Wednesday after Westpac’s lawyers sought leave to appear before the court, in what is among the biggest alleged frauds in the nation‘s recent history.

The bank was tight lipped on what it was bringing the case back for, but recent filings have seen further names added to the rapidly growing list of parties linked to the alleged fraud.

This comes as two new Forum figures have been ordered by the court to submit to examinations by lawyers acting for the company’s liquidator McGrathNichol.

Court documents filed this month name Brandon Chin and Craig Rollinson, and order they submit to examination and produce books “pursuant to the summons”.

Mr Chin worked as an accountant at Forum Group of Companies before leaving the business in June. He also had a stint as assistant accountant at Forum entity Iugis. He declined to comment when contacted by The Australian.

Forum accountant Brandon Chin. LinkedIn

Mr Rollinson, who served as chief of operations at the Forum Group, stepped into the role of company CEO in the absence of boss Bill Papas. Mr Papas left Australia for Greece in June after questions started being raised about account discrepancies by Perth-based customer WesTrac.

Court orders require Mr Chin and Mr Rollinson not attend each other’s examinations nor communicate with each other any answers to questions asked.

The move to question the pair comes after Mr Papas’s executive assistant Eloise Orlandini also found herself named in legal action by French bank Societe Generale, which alleged she may have knowingly submitted fraudulent documents.

Ms Orlandini is not a respondent in the Societe Generale case against Forum, but is named in the bank’s statement of claim.

Westpac, Societe Generale and Japan‘s Sumitomo Mitsui Banking Corporation have lodged separate court claims against Forum and Mr Papas, alleging combined fraud of $400m.

Meanwhile, McGrathNichol has been seeking to sell assets from the Forum group and its directors to help meet the banks‘ exposure.

Liquidators are using an auction house to try to sell almost 300 waste digester machines – housed by Forum subsidiary Iugis – after being unable to find a buyer.

The Miami-moored XOXO yacht, owned by Mr Papas and his business partner Vincenzo Tesoriero is set to be repaired and then put on the auction block.

Mr Papas, who has been the focus of examinations by Westpac into the alleged fraud, was unreachable for days after missing a meeting in Perth on June 15 with WesTrac.

Greek-Australian businessman Bill Papas who is the mastermind behind a $400 million fraud against Westpac seen in his hideaway in Thessaloniki, Greece.

Mr Papas arrived in Greece on June 21, more than a week before Westpac made public its alleged almost $300m exposure to potential fraud by the Forum Group on July 2.

Court documents allege Mr Rollinson had told Forum partner EQWE Mr Papas was overseas on June 27.

Mr Rollinson, who did not respond to calls, has since moved to data company Our Kloud, which bought part of the Forum Group’s printer rental business from company administrators.

Our Kloud CEO Eric Constantinidis is a cousin of Mr Papas.

Mr Rollinson reportedly spent much of the past two and a half years working in the Iugis business, which Mr Papas had started to build and manage a form of organic waste processing machines.

Earlier in the court case, Westpac had sought Mr Papas make disclosures of his assets and involvement in the Forum Group of companies, but has repeatedly questioned submissions he made to the court.

Westpac counsel Jeremy Giles SC had branded Mr Papas’ affidavit as not “an accurate statement” noting he had “grave concerns”.

Mr Papas’ barrister Jim Johnson has told the court Mr Papas had been unable to return to Australia to face the legal action brought against him by Westpac as he was unable to afford return flights.

However, Mr Papas appeared on the weekend at a pre-season friendly match for his Xanthi soccer club, which Westpac alleges was bought using fraudulently obtained funds.

Appearing in photographs a grinning Mr Papas appeared alongside Xanthi chief executive Tasos Giamouridis and club vice-president Fani Ouzounidis at the match, sitting in his official seats as club president.

Mr Giamouridis owns 1 per cent of Papas’ investment company that owns Xanthi and is named as a respondent in Westpac’s case, alleging he received at least $10.7m of the bank’s money.