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ASIC has banned a Melbourne broker who was sentenced to jail earlier this year over a low-doc loan fraud.
Cue Thi Huynh received a four-year sentence in February after pleading guilty to submitting $9.4 million of fraudulent loans.
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The former St Andrews Mortgage Solutions director has now been permanently banned from engaging in credit activities.
ASIC deputy chairman Peter Kell said dishonest brokers would be removed from the industry.
“As a further measure to protect the public from unscrupulous operators, Ms Huynh is automatically banned from managing companies for five years as a result of her conviction for serious fraud offences,” he said.
Ms Huynh has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.
