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A former mortgage broker and ex-boyfriend of supermodel Miranda Kerr was yesterday found guilty on one count of fraud following an investigation by ASIC.
ASIC had investigated the conduct of Adrian Camilleri during his time as sole director of Asset Finance Service Pty Ltd, a broking business that sourced lending capital from private investors.
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According to ASIC, Mr Camilleri received $123,441 from a private investor in December 2005 to be used for either investment in short term secured loans or be returned.
Instead, Mr Camilleri fraudulently omitted to account for the funds and has still failed to repay them to the investor.
According to The Australian, Mr Camilleri used the funds to support a lavish lifestyle including the purchases of a Range Rover and Porsche and gifts with which to shower his model girlfriend.
The matter is due to return to the New South Wales District Court tomorrow.
