Central Coast home cops huge $5.32m loss

This stunning Central Coast home has just been sold at a jaw-dropping loss. Agave, the resort-style Central Coast retreat once owned by accused fraudster Bill Papas, has been resold at a big loss. With views across Brisbane Water, the all-white Wagstaffe waterfront has fetched $10.88m. Its price reflects a $5.32m drop on its bullish $16.2m sale in February 2022 by the liquidators recovering assets after the Forum Finance founder fled to Greece in 2021 amid discovery of an alleged $400m bank fraud involving Westpac, Japan’s Sumitomo Mitsui Banking and French bank Societe Generale. With views across Brisbane Water, the all-white Wagstaffe waterfront has fetched $10.88m. Agave sold in 2022 after just 29 days on market at well above its $13.5m guide. The 2022 buyer has never been identified, linked only to a trust run by the accounting firm Aegis, which provides family office services. The 2022 buyer was later partially identified as the Australian co-founder of a US based tech company who “never used” the holiday home. Set on San Toy Estate, the seven-bedroom property on 2,288sq m was recently marketed as offering a “barefoot to the beach” lifestyle. Accused fraudster Bill Papas. List...