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ASIC has laid separate charges against two brokers who have been accused of forging documents and submitting false compliance statements.
The Australian Securities and Investments Commission (ASIC) has announced that it has charged two brokers for alleged breaches of their licensing obligations.
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Former Get Approved Finance broker Eric-John Larry Pryor appeared before the Perth Magistrates Court on 28 August 2020 and was charged with 12 offences, including:
- five counts of giving false and misleading information;
- two counts of forgery;
- two counts of uttering a forged record;
- two counts of fraud; and
- one count of inducing a debtor to make a false or misleading declaration.
According to ASIC, the charges relate to four motor vehicle finance contracts brokered by Mr Pryor between January 2013 and February 2013.
Mr Pryor has been granted bail, with the matter adjourned to 9 October 2020.
The matter will be prosecuted by the Commonwealth Director of Public Prosecutions.
ASIC permanently banned Mr Pryor and a former Get Approved Finance colleague from engaging in credit activities and providing financial services in July 2015.
Get Approved Finance was deregistered in September 2017.
In October 2015, ANZ agreed to compensate more than 70 borrowers for car loans organised by Get Approved Finance.
Meanwhile, Sydney-based mortgage broker Zhuo Wang has been charged with three counts of knowingly making a false statement in annual compliance certificates lodged with ASIC.
ASIC has alleged that between 1 May 2016 and 3 May 2018, Mr Wang completed and submitted three credit licence annual compliance certificates to ASIC, in which he falsely certified that he had not had his accreditation cancelled or suspended by a lender, despite losing accreditation with ANZ in April 2016.
Accordingly, the Sydney-based broker has been charged with breaching section 225(3) of the National Consumer Credit Protection Act 2009.
The matter has been adjourned to 22 September 2020 and will also be prosecuted by the Commonwealth Director of Public Prosecutions.
[Related: Advice remediation bill exceeds $1bn]
