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Jury retires in Matthew Perrin fraud case

AAP logoAAP 18/12/2016 Rachael Burnett

The jury has retired in the fraud trial of Billabong millionaire Matthew Perrin.

The former surfwear CEO is on trial in Brisbane District Court for fraud and forgery after he allegedly faked his ex-wife and brother's signatures on bank documents in 2008.

Perrin, who is also a qualified solicitor, used the family house in Surfers Paradise as security for $13.5 million credit from the Commonwealth Bank.

Perrin insists his ex-wife Nicole Bricknell, who owned the $15 million property, knew exactly what he was doing and gave her permission for him to sign the documents on her behalf.

He also admits faking his brother Fraser Perrin's signature on the paperwork, but claims he thought the loan would still be valid.

Perrin made a total of around $57 million from his investment in Billabong before he resigned as CEO in 2003.

By 2009 he had lost it all through bad investments and was declared bankrupt, the court was told.

He denies nine charges of forgery and three of fraud.

The jury retired to consider verdicts on Monday morning.

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