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A former finance broker who was previously permanently banned from engaging in credit activities has been charged with fraud.
Daniel Wilson appeared at Ringwood Magistrates’ Court on four charges of obtaining a finance advantage by deception.
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The charges (which are contrary to section 82(1) of the Crimes Act 1958 (VIC)) have followed an investigation by the Australian Securities and Investments Commission (ASIC) into Mr Wilson’s conduct between 2013 and 2014, while he was a finance broker at used car dealership Combined Motor Traders in Cranbourne.
ASIC has alleged that Mr Wilson obtained the car loans by submitting loan applications for four customers supported by false documents that had not been provided to him by the customers.
The loans – which totalled $56,454.50 – were approved by Esanda, a division of ANZ that provides vehicle finance at that time.
Mr Wilson was paid commission on the loans that he arranged, ASIC said.
Mr Wilson could face a maximum penalty for each charge of two years’ imprisonment, while the maximum cumulative term is five years’ imprisonment.
The matter has been adjourned to 20 May at the Ringwood Magistrates’ Court for further mention.
It is being prosecuted by the Commonwealth Director of Public Prosecutions after an investigation and referral of a prosecution brief by ASIC.
In October 2017, Mr Wilson was permanently banned from engaging in credit activities after ASIC found that five of the loans submitted by Mr Wilson contained false information relating to income verification and employment status.
At the time of the banning, ASIC also took into consideration Mr Wilson’s adverse criminal record, which included convictions for theft and possessing counterfeit money.
In December 2020, former Victorian car loan writer Adam Edward Greene – who was also a finance broker at Combined Motor Traders – was sentenced after pleading guilty to fraud in relation to four loans submitted by him containing false documents.
Mr Greene was permanently banned from engaging in credit activities in 2017.
[Related: Convicted loan writer permanently banned]
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