Ben Roberts-Smith puts Victoria Cross up as collateral for $1m legal fees loan

The former SAS corporal offered his prized Victoria Cross and other wartime medals to help fund his legal action against Nine.

Ben Roberts-Smith. Picture: Toby Zerna

Former SAS corporal Ben Roberts-Smith offered up his prized Victoria Cross, and other wartime medals, as collateral for a $1m loan from billionaire businessman Kerry Stokes, which helped fund his defamation action against Nine Entertainment.

Mr Stokes, chairman of Seven West Media, has been a long-time backer of Mr Roberts-Smith, and told The Australian in a statement on Thursday that the decorated former soldier retained his full support in the wake of the alle­gations arising from the Brereton ­report.

Kerry Stokes. Picture: Colin Murty

Mr Stokes said the funding of the former soldier’s legal action was “a private matter”. “However he has put his medals up as collateral on a loan and will relinquish them if ­required,” he said.

If Mr Roberts-Smith is unable to repay the loan — which is understood to be in the vicinity of $1m — Mr Stokes will donate the medals to the Australian War Memorial, a move approved by the former member of the SAS.

Mr Roberts-Smith is suing Nine over a series of reports in The Age and The Sydney Morning Herald, and on 60 Minutes, about alleged aspects of his wartime service in Afghanistan.

The Victoria Cross is the ­nation’s highest award for bravery — there are only four living Australians who have been bestowed the honour. He was decorated for drawing enemy fire away from his patrol members in Afghanistan by breaking cover and single-handedly silencing enemy machine-gun posts.

Mr Roberts-Smith also holds the Medal for Gallantry, and was awarded a commendation for distinguished service. Mr Stokes is the chairman of the Australian War Memorial in Canberra.

The media mogul also reiterated his long-held view that much of the reporting concerning Mr ­Roberts-Smith’s wartime service had been “very prejudicial”. 

Despite some media reports on Thursday claiming that Mr Stokes had distanced himself from Mr Roberts-Smith after the airing of the allegations, The Australian was told the pair remained close.

Mr Stokes phoned Mr Roberts-Smith on Thursday afternoon to reassure him that he was still ­firmly in his corner.

“Kerry has spoken to Ben and expressed his ongoing support for him,” a spokesman for Mr Stokes said.

The spokesman also said Mr Stokes remained a fierce backer of all SAS troops.

“Mr Stokes has been supportive of Ben and all other current and ex-SAS troops, as well as their families, dating back to the creation of the SAS Resources Fund in 1996 following the Blackhawk disaster.

“Mr Stokes is a member of the trust that administers funds to them,” the spokesman said.

The chairman of Seven West Media appointed Mr Roberts-Smith to a senior management position within the Queensland division of his company in 2015, and the 42-year-old will continue in that role for now, Mr Stokes said.

The billionaire has been the most vocal public advocate of Mr Roberts-Smith during the former soldier’s legal battles, and remains his primary financial backer.