ASIC slaps broker with first criminal charge

by Caroline Dann26 Sep 2012

ASIC is bringing criminal charges against a former broker for committing fraud, which is an NCCP and ASIC first.

Former NSW broker Daniel Nguyen is accused of “providing false information to banks” to secure approvals for loans, according to an ASIC statement.
Mr Nguyen has pleaded guilty to all 10 charges, which included nine offences of providing false documents to banks for loans totalling more than $3m, and one offence of assisting three clients to “apply for credit contracts that were unsuitable.”
At the time the offences took place, Nguyen was sole director and employee of MAI Home Loans.
He faces a maximum penalty of two years’ imprisonment and a fine of $11,000 for each charge.


  • by Country Broker 26/09/2012 9:37:49 AM

    At last some real action to get these types OUT of the industry good to see. It is disappointing to see the lenders stil taking these deal without proper checks and balances