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The incredible tale of Bill Papas’ money maze

The manager from the country’s biggest pub landlord Australian Liquor and Hospitality was shocked.

Trevor Smith, ALH’s national food manager, had just taken a call from the group’s bankers at Westpac asking strange questions about loans ALH had with the bank to lease equipment from Sydney finance house Forum Finance.

This was all news to Smith. ALH used some equipment — organic waste digesters – from a Forum subsidiary, but ALH didn’t have a loan from Westpac to pay for it, and they didn’t have any leasing agreements in place.

He quickly asked to see the loan documents and the contracts.

Smith didn’t realise it at the time, but he had just stumbled across what is alleged to be one of the biggest bank frauds in Australian history by Forum Finance and its founder director, the volatile and charming Bill Papas.

“It is not…



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