Powered by MOMENTUM MEDIA
subscribe to our newsletter sign up

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Former CBA lender faces fraud charges

Fraud

A former Commonwealth Bank mobile lender will stand trial for loan fraud conspiracy charges, in a case allegedly involving over 100 applications and $36 million in loans.

The Australian Securities and Investments Commission (ASIC) has announced that a Melbourne resident, Andrew Cameron, was committed to stand trial for one count of the common law offence of conspiracy to defraud, after a five-day committal hearing in the Melbourne Magistrates Court concluding on 5 October 2018.

ASIC has noted that Mr Cameron has entered a plea of not guilty and remains on bail.

The commission alleges that Mr Cameron conspired with others to defraud his former employer, CBA, by providing false documents and information in support of home loan applications.

Advertisement
Advertisement

It also alleges that the conspiracy involved approximately 121 loan applications and resulted in the CBA lending about $36,420,040.

The trial will be held in the County Court of Victoria on a date to be determined. The next directions hearing is on 26 October 2018.

The maximum penalty for the offence is 15 years’ imprisonment.

The matter is being prosecuted by the Commonwealth Director of Public Prosecutions.

Former CBA lender faces fraud charges
Fraud
nestegg logo
subscribe to our newsletter sign up
FROM THE WEB
Recommended by Spike Native Network
Cynic - Do you think this wasn't considered when Mr Morrison took 4 months to set the election date? It is out of our control to deliver this year. Ha!....
Anonymous - Bulldust. This sounds like leftist badmouthing the government as the ASTO has already said that even if the legislation is passed after 1 July 2019 it.......
Anonymous - Happy days are here again for all the aspirational battlers and retirees who will not be ripped off by Labor's Tax grab.....
MelbMan - We dodged a real bullet with Saturday nights Federal election result. ....