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AAP
AAP
National
Miklos Bolza

Win for banks over fugitive's 'audacious' $500m fraud

About $400 million was defrauded from Westpac using falsified equipment finance invoices. (Joel Carrett/AAP PHOTOS)

Disgraced entrepreneur and prominent soccer identity Bill Papas was on a plane to Greece soon after Westpac and two other banks discovered a more than half-billion-dollar fraudulent scheme.

Associates from the Forum group of companies, which were headed by Papas, were left to clean up the mess he left after the firms used falsified equipment finance invoices to rip off the lenders.

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