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Japanese bank SMBC has brought a $33.6M lawsuit against fintech Humm Group after its subsidiary Flexirent allegedly misled the bank about receivables under allegedly forged contracts between a Forum Group entity and Veolia Environmental Services.
Bill Papas' business partner Vince Tesoriero has won the release of $1.25 million to pay for his legal fees in Westpac’s fraud case against him, despite a judge’s finding that disclosure concerning his true financial position was “less than ideal” and included “staggering” discrepancies.
Accused Ponzi schemer Chris Marco has been hit with criminal charges after an investigation by the Australian Securities and Investments Commission found he defrauded $36.5 million from nine investors.
Trading firm Epoch Capital has brought proceedings against a quantitative analyst who allegedly downloaded confidential information from the firm’s computers.
Forum Finance director Vince Tesoriero has been caught out for failing to declare over $150,000 to the court, as he took the stand to defend evidence given about his financial position in Westpac’s fraud case against him.
His property development empire was saved from liquidation, but Daniel Grollo is still being hounded by creditors, with Bank of Queensland suing the Grocon CEO for the outstanding balance on a $12 million home loan.
ANZ is optimistic its proposed $4.9 billion acquisition of insurer Suncorp's banking unit will be cleared by the competition regulator, and is counting on the public benefits of the merger to win approval.
The sole director of personal lender ClearLoans has agreed to settle the first case the Australian Securities and Investments Commission brought related to the COVID-19 pandemic.
A court has ordered a consultant at Kahlbetzer family investment vehicle Twynam Investments to pay a $30,000 judgment for allegedly breaching confidentiality obligations in her contract.
The finance arm of luxury car maker BMW has been given the greenlight to repossess a red 2019 Ferrari 488 Pista Coupe purchased by alleged fraudster Bill Papas' defunct Forum Group.