Two Melbourne mortgage brokers
got themselves into hot water after allegedly manufacturing false documents to support $110m in home loans.
ASIC named Najam Shah, 55, of Glen Waverly, and Aizaz Hassan, 34, of Truganina, as the pair who had been charged with one count each of conspiracy to defraud. It carries a maximum penalty of 15 years' imprisonment.
Waverly and Hassan are said to have created and used false documents to support 350 home loan applications on behalf of their clients between April 2008 and December 2011 under the company name Myra Home Loan Pty Ltd (trading as Myra Financial Services).
These alleged false documents were payslips, bank statements, citizenship certificates and statutory declarations.
Shah’s partner and former Myra director Manija Zayee has also been charged with obtaining a financial advantage by deception in relation to the alleged use of false documents in support of a home loan application in her own name in September 2009.
It can be confusing to know whether to get a variable rate or fixed rate mortgage, and what features are important. That's why it's important to not only check the right rates, but make sure that you're getting the right features in your home loan. Get help choosing the right home loan