Retirement
Former CBA lender faces fraud charges
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.

Former CBA lender faces fraud charges
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.
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.

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