The last bank of the Japanese giant linked to the Forum Finance scandal
With the $ 285 million alleged by Westpac and an additional $ 9 million by French bank Societe Generale, the total exposure of the alleged fraud is approaching $ 400 million. Humm Group also told the sharemarket that it has potential exposure of around $ 12 million.
Sumitomo Mitsui could not be reached for comment at time of posting.
Forum Enviro is one of the many companies in the Forum group which is controlled by a director, Mackay Goodwin.
Mr Papas, who runs Forum Finance, and a number of other companies within the Forum group of companies, was due to return to Australia from Greece, according to his lawyer, who told the Federal Court last week that he would return last Saturday via Japan Airlines.
However, Mr Papas’ location remains unclear and it is believed he is still in Greece.
the Financial analysis sent a photographer to Sydney International Airport for the arrival of several flights, including the only Japan Airlines flight to Sydney over the weekend, a flight from Tokyo on Sunday morning, as well as a Emirates flight from Dubai on Saturday evening. Emirates is a codeshare partner of Japan Airlines.
Mr Papas was not seen among any of the arrivals who were transferred to buses to quarantine at the hotel.
The whereabouts of Forum Group CEO have been unknown since mid-June, when, according to court documents, he claimed to be in a Perth hospital.
The 49-year-old, who has a partner and family in Australia, is named with Forum Finance in court documents alleging a scheme to defraud Westpac by presenting false invoices and financing documents.
Sources said the fraud was made possible by the fact that banks such as Westpac had already put loan limits in place to extend debt financing to companies which Forum Finance said were on the other end of the line. their rental contracts.
These include WestTrac, Coles, Woolworths, owned by Seven Group, and the French multinational Veolia.