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A South Australian mortgage broker has been charged with five counts of providing false or misleading information to secure home loans totalling more than $500,000.
The Australian Securities and Investments Commission (ASIC) alleges that Daniel Duy Anh Nguyen, of Woodville North, provided the information to Westpac Banking Corporation in support of home loan applications on behalf of five of his clients.
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The information related to a sale contract and rental appraisal letters.
ASIC alleges the conduct occurred between October 2011 and February 2012 when Mr Nguyen operated a finance broking business named Arndale Finance at Woodville North.
Mr Nguyen is the sole director and credit representative of Ausfin Solutions Pty Ltd (Ausfin), an Australian credit licence holder which traded as Arndale Finance.
If convicted, each offence carries a maximum penalty of two years imprisonment or a fine of $11,000 or both.
The Commonwealth Director of Public Prosecutions is prosecuting the matter, which returns to Court on 1 November 2013.
Mr Nguyen’s conduct was brought to ASIC’s attention by Westpac, which has assisted the investigation.
ASIC has confirmed this case involves a different Daniel Nguyen from the one convicted of 10 offences under the National Consumer Credit Protection Act 2009 in January of this year.
