A MAN with alleged bikie links, accused of a $30 million deception, has been freed on $1 million bail.
Two earlier bail applications by former Viking Group head Steve Iliopoulos, 53, were refused.
He is charged with deceptively obtaining a financial advantage from the Commonwealth Bank, involving at least $30 million, and trying to deceptively obtain a financial advantage from Westpac, involving $53 million.
Prosecutor Peter Rose, SC, said police feared Mr Iliopoulos would flee overseas, interfere with witnesses, or continue offending.
He said Mr Iliopoulos had a Greek passport, which he had said was lost, and substantial means, particularly if he had access to about $40 million police couldn't find.
Justice Betty King said: "I don't think you've sufficient material . . . to say he should be remanded for this length of time."
She said any surety would need to be substantial, given the sums recently in Mr Iliopoulos's possession.
Mr Iliopoulos's 23-year-old daughter had offered her unencumbered property, worth about $400,000, as surety, the court heard.
Defence counsel Peter Morrissey, SC, said the impact on relatives of the loss of such a surety would create a moral obligation on his client to stay put.
Justice King set the value of the surety at $1 million and imposed strict bail conditions including a curfew, daily reporting to police, and the surrender of all passports.
The Magistrates' Court previously heard Mr Iliopoulos had links to bikies, who could help him get a fake passport and flee the country.
Police told the court that after the Viking Group's collapse, Comancheros besieged properties in Laverton and Tasmania to stop a liquidator entering to seize property.
Mr Iliopoulos faces allegations that he submitted to the Commonwealth Bank false information about the group's financial position in 2009-11, when sole director and shareholder of Viking Fleet Services.
http://www.heraldsun.com.au/news/law-order/viking-group-head-steve-iliopoulos-on-1m-bail-in-fraud-case/story-fni0fee2-1226712309060
Two earlier bail applications by former Viking Group head Steve Iliopoulos, 53, were refused.
He is charged with deceptively obtaining a financial advantage from the Commonwealth Bank, involving at least $30 million, and trying to deceptively obtain a financial advantage from Westpac, involving $53 million.
Prosecutor Peter Rose, SC, said police feared Mr Iliopoulos would flee overseas, interfere with witnesses, or continue offending.
He said Mr Iliopoulos had a Greek passport, which he had said was lost, and substantial means, particularly if he had access to about $40 million police couldn't find.
Justice Betty King said: "I don't think you've sufficient material . . . to say he should be remanded for this length of time."
She said any surety would need to be substantial, given the sums recently in Mr Iliopoulos's possession.
Mr Iliopoulos's 23-year-old daughter had offered her unencumbered property, worth about $400,000, as surety, the court heard.
Defence counsel Peter Morrissey, SC, said the impact on relatives of the loss of such a surety would create a moral obligation on his client to stay put.
Justice King set the value of the surety at $1 million and imposed strict bail conditions including a curfew, daily reporting to police, and the surrender of all passports.
The Magistrates' Court previously heard Mr Iliopoulos had links to bikies, who could help him get a fake passport and flee the country.
Police told the court that after the Viking Group's collapse, Comancheros besieged properties in Laverton and Tasmania to stop a liquidator entering to seize property.
Mr Iliopoulos faces allegations that he submitted to the Commonwealth Bank false information about the group's financial position in 2009-11, when sole director and shareholder of Viking Fleet Services.
http://www.heraldsun.com.au/news/law-order/viking-group-head-steve-iliopoulos-on-1m-bail-in-fraud-case/story-fni0fee2-1226712309060