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A former Victorian car loan writer has been sentenced after pleading guilty to fraud in relation to four loans submitted by him to a division of ANZ containing false documents.
Former finance broker Adam Edward Greene was sentenced at the Dandenong Magistrates Court in Victoria after pleading guilty to four counts of fraud involving over $85,000.
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The charges are related to an investigation by the Australian Securities and Investments Commission (ASIC) into Mr Greene’s conduct between 2014 and 2015, while he was a finance broker of a Cranbourne used car dealership, Combined Motor Traders.
Mr Greene wrote and submitted four loans for customers who had applied for a car loan. These loans were found to have contained false documents that had not been provided to him by the customers.
The loans were approved by Esanda, a division of ANZ at the time, and totalled $85,300.
The charges related to Mr Greene submitting false documents to secure a loan that ordinarily may not have been approved.
Magistrate Halse imposed an aggregate fine of $3,000 without conviction.
The matter was prosecuted by the Commonwealth Director of Public Prosecutions after an investigation and referral of a prosecution brief by ASIC.
The sentencing of Mr Greene follows on from his permanently banning from engaging in credit activities in 2017, after ASIC found that the four loans he submitted to Esanda contained false information or false documents.
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