Court issues arrest warrant for Papas

WESTPAC has secured Federal Court orders for the arrest of alleged fraudster Bill Papas in Greece, after a judge said he “repeatedly disobeyed” court orders.

Federal Court Judge Michael Lee made the order for the warrant, arrest and detention of Forum Finance founder Mr Papas, and cited an extradition order between Australia and Greece. “I’m satisfied that I should issue a warrant ... I’m satisfied there is power,” Justice Lee said.

“There is no basis, let alone a reasonable basis, for thinking that Mr Papas is likely to return from Greece to Australia on any firm date.”

Mr Papas flew to Greece in June, according to court documents.

Westpac, French bank Societe Generale and Japan’s Sumitomo Mitsui Banking Corporation have separately lodged Federal Court cases against Forum entities, Mr Papas and his fellow Forum director Vincenzo Tesoriero.

The three cases amount to total claims of $400m in fraud, allegedly conducted via forged signatures and fake invoices for equipment leases.