A Melbourne man has plead guilty to charges stemming from an investigation stemming from an investigation in to home loan fraud worth hundreds of millions of dollars.
Aizaz Hassan plead guilty to one charge of conspiring to defraud financial institutions at the Melbourne Magistrates' Court on 9 September following an investigation by the Australian Securities & Investment Commission (ASIC).
The charge followed an ASIC investigation into Footscray-based finance broking company, Myra Home Loan Pty Ltd.
Hassan was arrested in January after ASIC investigated loan applications submitted on behalf of Myra clients between March 2008 and August 2010.
The investigation found that while employed at Myra, Hassan created and used false documents to support home loan applications valued at approximately $110 million.
Hassan's guilty plea relates to conspiring with others, including Najam Shah, to defraud the financial institutions.
Shah was also arrested in January 2015 and charged with conspiracy to defraud financial institutions, he is currently on bail and will be appearing in the Melbourne Magistrates' Court on 28 September 2015 for a contested committal hearing.
Hassan is currently on bail and is required to appear at the County Court at Melbourne on 14 October 2015.
Do you have more than $200k in your super fund? You could use your super to buy property - Find out how
Top Suburbs :
tweed heads south
Get help financing your investment
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local expert Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus, our mortgage broking service is at no cost to you.
We value your privacy and treat all your information seriously - you can check out