Billabong: Struggling in a tough trading environment.

Billabong troubles continue

Former Billabong head honcho Matthew Perrin has been put before a Brisbane court charged with defrauding the Commonwealth Bank of $13.5 million.

Perrin was charged with fraud this week following a three year investigation by the State Crime Operations Commands Fraud and Corporate Crimes Group.

It is understood Perrin, who was granted bail but asked to surrender his passport, will plead not guilty.

It is alleged he defrauded Commonwealth Bank by providing false documents and a guarantee relating to mortgages taken out on a home.

It is alleged he forged the signature of his ex-wife Nicole Bricknell.

Bricknell will be a witness in the case, which has been adjourned until November 6.

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