The Melbourne home is one of the last assets to be claimed in the drawn-out recovery process against respondents in the $500 million-plus fraud case.
, the business associate of alleged fraudster Bill Papas, in a mortgagee sale campaign asking $9.25 million for the four-level Hawthorn pile.Burton selling agent Walter Dodich declined to comment at the end of the campaign for the 64-66 Berkeley Street home, other than to confirm buyer interest inThe four-level home at 64-66 Berkeley Street in Melbourne’s Hawthorn has a price guide of $9.25 million.Mr Tesoriero remains a tenant in the home purchased in May 2020 for $7.
But Westpac and Sumitomo Mitsui Banking of Japan, which allege the purchase deposit was paid with funds fraudulently taken from them, assert their right to any capital gain after payment of the mortgage.
Sources with knowledge of the case say the banks, if successful in their claim, are likely to recover less than $50 million. Vince Tesoriero last year said he was spending $58,600 a month on principal and interest payments on the mansion, bought for $7.95 million in 2020.of being part of the alleged conspiracy. He denied devising or knowing anything about the alleged fraud and defended the claim.
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