Bail after court hears of $100 million fraud

A NARRE Warren man and Lysterfield man appeared in court last week as part of an ongoing investigation into a $100 million fraud.
William Jordanou, 55, from Narre Warren, was arrested last Wednesday by detectives from the Fraud and Extortion Squad in relation to the alleged fraud, which is believed to have taken place over the past 10 years and relates to fraudulent loans secured by an accounting firm.
Last Thursday 49-year-old Robert Zaia from Lysterfield was also arrested in relation to the alleged fraud, while a 43-year-old Rowville man was charged on Friday with more than 140 offences as part of the Fraud and Extortion Squad’s investigation.
Mr Jordanou faced Melbourne Magistrates’ Court last Wednesday charged with 142 offences.
Prosecutor Luke Exell told the court a complaint was made by the Commonwealth Bank of Australia involving loan applications lodged by Zaia Arthur and Associates, the accounting firm where Mr Jordanou worked as a financial adviser.
Mr Exell said it was alleged that Mr Jordanou and others applied for property loans using false documents.
George Defteros, defending, said Mr Jordanou would vigorously deny the charges.
Mr Jordanou was released on bail and is due to return to court in September.