CBA fraudster given 11 years jail

The former Viking boss who defrauded the CBA has been handed a long jail term.

THE former head of the failed Viking Group has been jailed for 11 years for defrauding the Commonwealth Bank of $33.5 million to prop up his ailing company and attempting to defraud Westpac.

Steve Iliopoulos, 54, was found guilty of 12 fraud charges, along with co-accused Vasilis “Bill” Bariamis, 54, who was found guilty of three fraud charges, after the company secured loans by lying about its income.

Victorian Supreme Court Justice Stephen Kaye said on Tuesday the company’s chief financial officer, Loukia Bariamis, was the mastermind and while Iliopoulos approved the deception, he lacked the skills to execute the scheme alone.

Iliopoulos will spend at least seven years behind bars.

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