Court issues arrest warrant for Forum Group’s Bill Papas


Credit: Illustration 110551495 © Maxkabakov –

The Federal Court has issued an arrest warrant against longtime Forum Group CEO Bill Papas, who is expected to eventually trigger his extradition from Greece to Australia over allegations of fraud.

The arrest warrant comes as Papas is said to have violated court orders, violated freeze orders and showing no intention of returning to Australia to face allegations of fraud from several banks.

The extradition process can take months as these orders are typically processed between federal government agencies.

On October 20, Federal Court Judge Michael Lee ruled that the order of an arrest warrant was necessary because Papas made “no real effort” to return to Australia and provided “less information. that satisfactory ”to his lawyers.

Bill Papas (Forum Group)Credit: Supplied
Bill Papas (Forum Group)

Regarding the violation of the freezing orders, it was revealed in court that Papas had transferred two sums of money – $ 150,000 and an additional $ 570,000 – to his cousin, Eric Constantinidis, using a online trading called MacroVue. This is separate from the purchase by Constantinidis of the managed services division of Forum Group for his own company, Our Kloud.

The court was also treated with Papas’ American Express records which show that shortly after leaving Australia he stayed at luxury resorts and even took a business class flight to Paris, Judge Lee suggesting that Papas “didn’t seem to be sitting in the back of the plane.

Unlike Papas, business partner Vince Tesoriero has indicated his willingness to participate in the legal proceedings.

Recently, appointed liquidators at Forum Finance and its related entities uncovered more details on the extent of Papas’ alleged financial fraud, suggesting it could date back to 2013, with alleged fraudulent contracts over $ 500 million. dollars.

The Forum saga began to unfold in May following Westpac’s discovery of a potentially significant fraud of over $ 250 million involving allegations of falsified customer invoices involving managed print services and hardware. rental of computers and environmental services, for obtaining bank loans.

Sydney-based managed service provider Forum Group and associated company Forum Finance are just two of many companies owned by Basile Papadimitriou – aka Bill Papas – who allegedly fled to Greece following Westpac’s investigation and civil lawsuits that followed.

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