Login
ISCOVER
Aussie Home Loans says no customers were affected financially in a $2.7 million mortgage fraud case involving one of its former brokers.
Emma Feduniw, also known as Emma Khalil, was earlier this week convicted and fined $8,500 in Beenleigh Magistrates Court.
To continue reading the rest of this article, please log in.
Looking for more benefits? Become a Premium Member.
Create free account to get unlimited news articles and more!
Looking for more benefits? Become a Premium Member.
The conviction came after Feduniw admitted providing documents in support of eight loan applications submitted to Westpac totalling $2,720,400 despite knowing they contained false or misleading information.
The applications contained letters which purported to be from the applicant’s employer. These letters were false and often the loan applicant had never worked for the particular employer, ASIC said in a statement.
In sentencing Feduniw, Magistrate Anne Thacker acknowledged that she had cooperated with ASIC, admitted to the offences and entered a guilty plea at the earliest possible opportunity.
Aussie said in a statement it had investigated discrepancies and false documents in loan applications made by Feduniw and informed the MFAA, who subsequently terminated her membership.
“Ms Feduniw’s contract with Aussie was terminated in April 2014 after serious breaches of Aussie’s strict code of conduct and legal, credit and compliance obligations,” Aussie said.
“Aussie fully cooperated with ASIC in its investigation and provided supporting documentation and other evidence to assist ASIC in its prosecution.”
Aussie said it understands no customers were disadvantaged financially as a result of Feduniw’s actions.
“Aussie has a zero tolerance policy to any infringements, and reports any terminated brokers to ASIC as part of its governance activity,” it said.
[Related: Broker admits to defrauding big four bank]
