Alan Bond, villain and hero of Australian business, dies

Bond is remembered by some as the man who brought glory to Western Australia when he financed the country’s America’s Cup win in 1983

Businessman Alan Bond, skipper John Bertrand (at helm) and keel designer Ben Lexcen, following their America's Cup victory (Rex)

Alan Bond, the infamous Australian businessman, has died at the age of 77 just days after undergoing heart surgery.

Bond is remembered by some as the man who brought glory to Western Australia when he financed the country’s America’s Cup win in 1983.

Others remember him as a villain for syphoning £900million from Bell Resources, a company in which he had a controlling stake to shore up his own ailing Bond Corporation. He was jailed for four years for fraud in 1997.

By that time Bond had already been declared bankrupt, with personal debts totalling £900 million. His family later bought him out of bankruptcy.

Bond was born and live in the UK until the age of 12. He became one of Australia’s richest men, initially through property. He later invested in brewing, gold mining, television and airships.

He died in hospital following a heart operation.