Powered by MOMENTUM MEDIA
subscribe to our newsletter

Melbourne man pleads guilty to mortgage fraud 'conspiracy'

A Melbourne man has pleaded guilty for his role in a multi-million dollar home-loan fraud conspiracy.

Mr Aizaz Hassan, 34, of Victoria, has pleaded guilty to one charge of conspiring to defraud financial institutions.

The charge follows an ASIC investigation into Footscray-based finance broking company, Myra Home Loan Pty Ltd, trading as Myra Financial Services (no longer trading) (Myra).

According to an ASIC statement, the charge relates to Mr Hassan's role at Myra and the creation and use of false documents to support loan applications valued at approximately $110 million.

Mr Hassan entered the guilty plea during an appearance at the Melbourne Magistrates' Court on 9 September 2015, and follows his arrest and charge in January 2015.

Advertisement
Advertisement

Mr Hassan is currently on bail and is required to appear at the County Court at Melbourne on 14 October 2015.

The matter is being prosecuted by the Commonwealth Director of Public Prosecutions.

Mr Hassan's guilty plea relates to conspiring with others, including Mr Najam Shah, to defraud financial institutions through the provision of false documents in support of loan applications submitted on behalf of Myra clients between about March 2008 and August 2010, according to ASIC. 

Mr Shah was also arrested in January 2015 and charged with conspiracy to defraud financial institutions.

Mr Shah is currently on bail and will be appearing in the Melbourne Magistrates' Court on 28 September 2015 for a contested committal hearing.

PROMOTED CONTENT


Melbourne man pleads guilty to mortgage fraud 'conspiracy'
mortgagebusiness

Latest News

The big four bank has confirmed that it is rolling out a new program of work to increase the speed in which it provides unconditional approv...

The ASBFEO has called on government to fund a revenue-contingent loan scheme for SMEs to help them manage cash flow once support measures en...

The fintech’s debit card and pay facilities will come offline today following the neobank’s decision to exit the banking business. ...

FROM THE WEB

Join a group of highly informed brokers.

Broker Pulse, a community-driven knowledge base of lender performance Reveal exactly which lenders are making life easiest for brokers and their clients by taking this monthly survey and joining a group of highly informed brokers who leverage these insights every month.

JOIN NOW
podcast

LATEST PODCAST: A new mortgage lender enters the fray

Do you expect to see strong uptake of the HomeBuilder scheme?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.