Nicole Bricknell, the ex-wife of former Billabong boss Matthew Perrin. Picture: Dan Peled

Nicole Bricknell told the Brisbane District Court today that signing away their custom-built, waterfront house at Surfers Paradise was “worse than having an affair”, and accused Perrin of taking their $15 million family home from their three children.

The former Billabong CEO is on trial for fraud and forgery after allegedly faking his wife’s signature on the paperwork in 2008.

“Matthew was never allowed to sign my signature on anything,” she told the court on Wednesday.

“I always protected my children and I never ever would have allowed him to sign my name on anything — that was not the right thing to do.

“This man has taken from me and my children without my permission and knowledge, that’s worse than having an affair in my opinion.”

Earlier Ms Bricknell told the court she thought he was going to admit he had been unfaithful again when he confessed, “I’ve done a lot of bad things”.

But he replied “no, it’s much worse than that” and told her “I’ve lost everything”, including their $15 million, waterfront home.

But Perrin’s barrister Andrew Hoare suggested to Ms Bricknell that her husband “never mentioned the word jail or the word forgery” during his emotional breakdown on January 20, 2009.

According to the Courier Mail, Ms Bricknell denied the suggestion, saying it was “completely incorrect”.

Mr Hoare also suggested that Ms Bricknell could have “saved” Perrin by using $10 million she had withdrawn from their joint bank account to repay the mortgage to the Commonwealth Bank, which was allegedly obtained using her forged signature.

“You could have used that $10 million to pay back the bank and save your husband at that point,” Mr Hoare asked.

“Could I? Why would I have done that?” Ms Bricknell replied.

“My children are my priority,” she told the jury.

Nicole Bricknell.Source:News Corp Australia

Matthew Perrin.Source:News Corp Australia

The trial had to be temporarily halted on Tuesday when Ms Bricknell broke down in tears and began hyperventilating.

She dramatically broke down in the witness box as she described how the multi-millionaire couple went belly-up after Perrin allegedly used the Surfers Paradise house as security for $13.5 million credit from the Commonwealth Bank.

They allegedly made $33 million from their investment in the popular surfwear company in the late 1990s.

The pair enjoyed a luxurious lifestyle for a number of years that included overseas holidays, $10,000-a-month living expenses and the gift of a $75,000 car to her husband, she told the Brisbane District Court.

But it all fell apart after Perrin allegedly used their waterfront home on Cronin Island as bank security.

Perrin was declared bankrupt in 2009 after his investments collapsed. He admits signing his former wife’s name but claims he had her permission to do so.

He is also accused of faking his brother Fraser Perrin’s signature as a witness on the paperwork.

Perrin denies nine charges of forgery and three of fraud.

The couple had designed and built their property together as a “forever home” for them and their three children, Ms Bricknell said.

Perrin started “shaking and crying” as he explained they were going to lose their custom-built house, the court heard.

Ms Bricknell said she thought they had no financial worries and more than $75 million in assets. She told the court she didn’t know what he was doing and never gave him authority to sign her name.

The former beautician said her husband dealt with all their finances while she stayed at home looking after their three children.

She said she thought he was “dabbling” in the stockmarket and had no idea his trades totalled $461 million or that he had been increasing his debts with the bank.

He was declared bankrupt in 2009 after his investments collapsed. Perrin admits signing his former wife’s name but claims he had her permission to do so.

He is also accused of faking his brother Fraser Perrin’s signature as a witness on the paperwork.

Perrin denies nine charges of forgery and three of fraud.

The trial’s second day concluded early on Tuesday afternoon when a juror collapsed and had to be assisted from the court.

The trial continues on Wednesday.