A Sydney woman employed by a company trading as Premium Financial and Retirement Solutions has pleaded guilty to four charges of fraud after an investigation by the corporate regulator.
The Australian Securities and Investments Commission found she created false loan documents to secure home loans for seven clients worth more than $3.6 million.
Shashi Kanta Prasad, 48, pleaded guilty in Downing Central Local Court to making seven false statements between February 2008 and March 2011 while employed by Raj Prasad and Co Pty Ltd.
She also pleaded guilty to generating 41 fake documents and instruments and using them to gain a financial upper hand for her employer through commissions.
Prasad faces a maximum sentence of five years behind bars on two of the charges and 10 years’ jail on the other two charges.
She will be sentenced on 18 July by the Sydney District Court.
The Commonwealth Director of Public Prosecutions is prosecuting the case.
