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A Melbourne man has entered a plea of guilty, in a committal proceeding at the Melbourne Magistrates' Court, to one charge of conspiring to defraud financial institutions.
The charge against Mr Mohamed Radhi Maki Ebrahim Ahmed, 28, follows an ASIC investigation into finance broking company, Myra Home Loan Pty Ltd, trading as Myra Financial Services (Myra) (no longer trading), located in Footscray, Victoria.
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The charge relates to Mr Ahmed's role at Myra and the use of false documents in support of loan applications valued at approximately $79 million.
Mr Ahmed entered the guilty plea during an appearance at the Melbourne Magistrates' Court on 10 February 2015, following his arrest on 19 December 2014. The proceeding was subject to a suppression order which expired on 6 March 2015.
Mr Ahmed entered a guilty plea to conspiring with Najam Shah, 55, and Aizaz Hassan, 34, to defraud financial institutions through the provision of false documents in support of loan applications submitted on behalf of Myra clients between about December 2009 and December 2011.
The conspiracy involved the creation of false documents, including payslips, bank statements, citizenship documents and statutory declarations, submitted in support of at least 350 loan applications to numerous financial institutions, including the Commonwealth Bank, Westpac, St George Bank, Bankwest, Bank of Adelaide, ANZ, Bank of Queensland, Choice Home Loans, Citibank, National Australia Bank, Pepper Homeloans and Suncorp Bank.
Mr Ahmed has been bailed to appear at a sentencing hearing in the county court at Melbourne on 16 April 2015.
Mr Shah and Mr Hassan were arrested and charged on 2 January 2015 with conspiracy to defraud financial institutions. The two men have been bailed and will appear in the Melbourne Magistrates' Court on 17 April 2015 for a committal mention.
The matter is being prosecuted by the Commonwealth Director of Public Prosecutions.
