A former mortgage broker, Adrian Camilleri, has been found guilty on one count of fraud.
Camilleri was under investigation by the Australian Securities and Investments Commission for his conduct between December 2005 and September 2006, when he was the director of Asset Finance Service.
In December 2005 Asset Finance received $123,441 from an investor to be used for short-term secured loans, which were not invested. Camilleri fraudulently omitted to account for them, and the principal investment has not been repaid.
Camilleri’s bail has been continued and the matter will return to the New South Wales district court on June 5.
