The 49-year-old Mr Papas, also known as Basile Papadimitriou, is named as a respondent along with Forum Finance and Forum Enviro in civil court claims relating to alleging schemes to defraud Westpac, French bank Socit Gnrale, and Sumitomo Mitsui Banking of Japan by presenting false invoices and documents for financing.
The director has placed Iugis into voluntary administration. The administrator is now managing the company on a day-to-day basis, Forum Group executive general manager of operations Craig Rollinson said in an email to Iugis staff on July 9, obtained by the Financial Review.
Whilst we appreciate this is a difficult time, the management team is working to provide the best possible outcome for both the company and employees….
Read the full article at: https://www.afr.com/companies/financial-services/staff-at-papas-iugis-left-shocked-as-jobs-lost-20210716-p58aag
