A young accountant working at Forum Finance who wrote an internal email describing a “ponzi scheme” set up by alleged fraudster Bill Papas says he was working under the instruction of the company’s chief financial officer.
The 28-year-old accountant Brandon Chin told the Federal court on Tuesday he had questioned his boss, Forum CFO Tony “Moussa” Bouchahine, about why the company was paying customer invoices rather than asking the customers to do it themselves but was told the issue would be resolved.
Mr Chin was appearing at public examinations into the collapse of Forum Finance following allegations by Westpac and other lenders that Mr Papas had orchestrated a $400 million fraud by drawing up fake contracts and forging the signatures of managers at large bank customers.
Mr Chin has not been accused of any wrongdoing and was giving evidence to assist the liquidators from McGrathNicol in their investigations.
Counsel for liquidators described how Mr Chin had a front row seat to the activities of Mr Papas in his alleged fraud, taking him to a range of documents that included unusual accounting notes or emails.
This included a handover email following Forum’s collapse where Mr Chin described how existing invoices were being paid out from money from new contracts. Counsel for liquidators Nick Kidd, SC, this week described Mr Chin’s email as laying out a “ponzi scheme”.
Mr Chin said it was “not a complete…