Former Billabong CEO Matthew Perrin has been sentenced to eight years' imprisonment after he was found guilty of faking his ex-wife's signature to get a $13.5 million loan.
The 44-year-old was convicted of three counts of fraud and six of forgery after a week-long trial in Brisbane District Court in December last year.
More BusinessDay Videos
- Video duration
- 01:33
Former Billabong CEO jailed
Former Billabong CEO jailed
Ex-Billabong CEO Matthew Perrin has been sentenced to eight years in jail for fraud. Video courtesy ABC News 24.
Up Next
Negative gearing explained
- Video duration
- 00:19
- Video duration
- 00:19
Negative gearing explained
Negative gearing explained
You've heard the term bandied around, but what actually is negative gearing?
Up Next
Australia's Day off
- Video duration
- 01:41
- Video duration
- 01:41
Australia's Day off
Australia's Day off
With the national holiday on a Thursday this year, how many people are taking a sickie today for a long weekend?
Up Next
Trump: It's going to be America first again
- Video duration
- 02:24
- Video duration
- 02:24
Trump: It's going to be America first ...
Trump: It's going to be America first again
US President Donald Trump discusses trade, taxes, financial reform and infrastructure at a Republican congressional retreat in Philadelphia.
Up Next
Is a AAA credit rating that important?
- Video duration
- 02:26
- Video duration
- 02:26
Is a AAA credit rating that important?
Is a AAA credit rating that important?
Australia's politicians love to bang on about the country's credit rating, but what is it, and what will happen if we lost our triple-A status?
Up Next
Why does inflation matter?
- Video duration
- 00:50
- Video duration
- 00:50
Why does inflation matter?
Why does inflation matter?
Inflation has increased slowly over the past decade, but how does that affect you?
Up Next
Bond markets get French election jitters
- Video duration
- 01:34
- Video duration
- 01:34
Bond markets get French election jitters
Bond markets get French election jitters
As nerves around France's presidential election start to play out in debt markets, a new political scandal involving front-runner Francois Fillon's wife, Penelope, could play into the hands of his opponents.
Former Billabong CEO jailed
Ex-Billabong CEO Matthew Perrin has been sentenced to eight years in jail for fraud. Video courtesy ABC News 24.
The jury had been unable to decide on three further forgery charges.
On Friday, Crown prosecutor Glenn Cash told the court approximately $4 million had been recovered to the Commonwealth Bank after it was defrauded of the $13.5 million.Â
Related Content
Perrin was sentenced to eight years for three counts of fraud, six years for four counts of forgery and seven years for two further counts of forgery.
He will serve them concurrently and is eligible for parole in four years.
Judge Julie Dick said Perrin turned to criminal activities to "stay afloat" and she found it "disturbing" he had persisted with the prosecution of his ex-wife Nicole Bricknell in relation to the confession note Perrin denied writing.
"You did express remorse initially, particularly in front of friends and family in ... 2009, unfortunately that remorse has dissipated over time and you opted to have a trial in this matter," she said.
"You seem simply to refuse to recognise that it was you who forged the documents and you who presented them to the bank."
Perrin had forged his former wife's signature to mortgage his family's $15 million property in Surfers Paradise in 2008 without her permission. She owned the home.
Ms Bricknell said she had never given him the authority to sign on her behalf.
"This man has taken from me and my children without my permission and knowledge, that's worse than having an affair in my opinion," she said during her evidence last year.
- with AAP