Ex Aussie mortgage broker faces jail sentence over $2.7m loan fraud

Former Brisbane-based mortgate broker, Emma Feduniw, is facing a possible custodial sentence over her role in falsifying eight home loan applications totally $2,720,400, following an investigation by the Australian Securities and Investments Commission (ASIC).

In a statement, the regulator said that Feduniw (also known as Emma Khalil) was a mortgage broker through AHL Investments Pty Ltd, trading as Aussie, when she reportedly falsified employment letters to secure approvals for loans through Westpac.

ASIC said, five applications approved paying Feduniw a total commission of over $6,840.

Related News:

The loan values ranged from $250,000 to $480,000.

She appeared before Beenleigh's Magistrates Court and through her solicitor, admitted to eight charges of providing documents knowing they were false or misleading.

ASIC deputy chairman Peter Kell said, "Credit laws are designed to ensure borrowers do not take out loans they cannot afford. Actions by mortgage brokers to circumvent the laws, for their own benefit, erode trust and confidence in the mortgage broking industry and will not be tolerated."

Feduniw will appear before court in June for sentencing and could face two years behind bars or a fine, for each charge.




Related Content

Head of mental health appointed at TAL

Life insurer TAL has appointed Glenn Baird to the newly created role of head of mental health. The appointment aims to expand TAL’s ability to under...more

Default fund selection vital for consumer protection

The Australian Institute of Superannuation Trustees (AIST) has welcomed the digitisation of superannuation choice forms, which will allow consumers to...more

Perpetual continues to defend unitholders’ interest

Perpetual has announced it would continue to act in the interest of unitholders after the Federal Court of Australia dismissed on Monday its sharehold...more

Comments

Add new comment