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.