Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter
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).

Advertisement
Advertisement

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.

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.

Melbourne man pleads guilty to mortgage fraud 'conspiracy'
mortgagebusiness

Latest News

New APRA data has revealed that ANZ was the only big four bank to record negative home lending growth before the coronavirus outbreak altere...

The rapid move to support digital mortgages amid the coronavirus pandemic “will have a dramatic effect” on how people will transact on m...

Mortgage holders will be breathing a “sigh of relief” following the federal government’s announcement of a new $130-billion support p...

FROM THE WEB
podcast

LATEST PODCAST: Further relief for SMEs and borrowers

Do you think Australia will move to quantitative easing this year?

Why we’ll keep delivering for our communities in the face of COVID-19

alex

As Australia tries to keep pace with a rapidly changing business and social landscape in the wake of COVID-19, Momentum Media is leading the way delivering essential content to our communities, writes Alex Whitlock, director of Mortgage Business.

Read more

Website Notifications

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