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BREAKING: ASIC deals ban to former banker

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Australian Broker | 12 Mar 2014, 10:40 AM Agree 0
ASIC has permanently banned a former Big Four home finance manager from providing financial services.
  • Gary S | 12 Mar 2014, 11:30 AM Agree 0
    As a former banker and mortgage broker for the last 20 years, I am disgusted to read these types of frauds. Once upon a time, bankers were respected within the community for their honesty and integrity. It is mongrels like this that can destroy the integrity and sincerity of all the good bankers in the industry.
  • Broker | 12 Mar 2014, 11:57 AM Agree 0
    What someone from a bank committed fraud, wow he must be the first!
  • John L | 12 Mar 2014, 12:09 PM Agree 0
    It appears he got off lightly thanks to working in a bank. Had he been a broker he'd no doubt be facing jail time.
  • Milton | 12 Mar 2014, 12:14 PM Agree 0
    Bank West have been doing this for years through their Development Managers and then they sack their Development Managers and say "sorry but that person is no longer with us".
  • Broker | 12 Mar 2014, 01:33 PM Agree 0
    Spot on John, different strokes for different folks it appears, perhaps ASIC could explain why that is the case?
  • Keith of the West | 12 Mar 2014, 06:52 PM Agree 0
    FInally ASIC nails an employee of a Bank heaven forbit its not a broker! Obviously the size of the fraud was so big even Westpac couldn't keep it in house and make the files quietly disappear
  • Broker | 13 Mar 2014, 03:30 PM Agree 0
    If this was a Broker he would have gone to jail.

    The misconception that Bankers are angels is massively WRONG.

    I remember one Bank Manager saying to me "Who is the Bank?". That's spot on... Pass the Buck and bury the wrong doing.
  • SIDBROKER | 14 Mar 2014, 09:40 AM Agree 0
    Look. Who`s kidding who. This goes on in just about every branch of every bank every day. Especially take a look in China town. Come on get real. You have employee`s under the pump to perform and meet their targets and they don`t want to lose their job do they and so they do push the paper a little when required. Come on they are only human. Then you get the boss at the banks saying naughty naughty when they get caught. It a bit like the transport companies forcing their drivers to meet DEAD lines and then some go on no doze so the poor blokes can stay awake. Does ASIC really think that the banks are perfect. Oh come on!!!!
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