October 20, 2021
Scam/Fraud

Bill Papas Used Green Tea And Nuts To Evade Greek Football Laws

Alleged fraudster Bill Papas diverted funds to Greek football club Xanthi from Australia via an elaborate structure that involved the creation of a Bulgarian nut farmer and Greek green tea promoter, supposedly to evade local ownership rules.

Former Forum Group Executive Craig Rollinson said that the creation of two companies that received funding from an Australian entity, which in turn was loaned money from the group, may have been “designed to get around those rules”.

Mr Rollinson was questioned on Monday by Nick Kidd, a barrister for Forum’s liquidator McGrathNicol, as the advisory and restructuring firm probes the failure of Forum on behalf of creditors.

Bill Papas, Forum’s founder and CEO left for Greece weeks before an alleged fraud was made public, as banks, including Westpac, attempted to recover around $400 million.

A subsequent investigation into the group’s dealings has exposed a convoluted maze of payments out…

Read full article here: greekcitytimes.com