Former CBA mobile lender charged with loan fraud conspiracy
Former CBA mobile lender charged with loan fraud conspiracy
By Charbel Kadib
12 October 2018
ASIC has announced that a former Commonwealth Bank mobile lender will stand trial for loan fraud conspiracy charges.
The Australian Securities and Investments Commission (ASIC) has announced that a Melbourne resident, Andrew Cameron, was committed to stand trial for one count of the common law offence of conspiracy to defraud, after a five-day committal hearing in the Melbourne Magistrates’ Court concluding on 5 October 2018.
ASIC has noted that Mr Cameron has entered a plea of not guilty and remains on bail.
The commission alleges that Mr Cameron conspired with others to defraud his former employer, CBA, by providing false documents and information in support of home loan applications.
It also alleges that the conspiracy involved approximately 121 loan applications and resulted in the CBA lending approximately $36,420,040.
Advertisement
Advertisement
The trial will be held in the County Court of Victoria on a date to be determined. The next directions hearing is on 26 October 2018.
The maximum penalty for the offence is 15 years’ imprisonment.
The matter is being prosecuted by the Commonwealth Director of Public Prosecutions.
Former CBA mobile lender charged with loan fraud conspiracy
PROMOTED CONTENT
>The Australian Securities and Investments Commission (ASIC) has announced that a Melbourne resident, Andrew Cameron, was committed to stand trial for one count of the common law offence of conspiracy to defraud, after a five-day committal hearing in the Melbourne Magistrates’ Court concluding on 5 October 2018.
ASIC has noted that Mr Cameron has entered a plea of not guilty and remains on bail.
The commission alleges that Mr Cameron conspired with others to defraud his former employer, CBA, by providing false documents and information in support of home loan applications.
It also alleges that the conspiracy involved approximately 121 loan applications and resulted in the CBA lending approximately $36,420,040.
The trial will be held in the County Court of Victoria on a date to be determined. The next directions hearing is on 26 October 2018.
The maximum penalty for the offence is 15 years’ imprisonment.
The matter is being prosecuted by the Commonwealth Director of Public Prosecutions.
Charbel Kadib is the news editor on the mortgages titles at Momentum Media.
Before joining the team in 2017, Charbel completed internships with public relations agency Fifty Acres, and the Department of Communications and the Arts.
You can email Charbel on: This email address is being protected from spambots. You need JavaScript enabled to view it.
A new partnership exploring how the build-to-rent-to-buy (BtRtB) model could help at-risk and vulnerable women become home owners is under...
Join Australia's most informed brokers
Do you know which lenders are providing brokers and their customers with the best service?
Use this monthly data to make informed decisions about which lenders to use. Simply contribute to the survey and we'll send you the results directly to your inbox - completely free!
