A former Aussie
broker located in Brisbane has been convicted after admitting to defrauding a major bank.
Emma Feduniw, also known as Emma Khalil, a former mortgage broker with AHL Investments (trading as Aussie
), has been convicted and sentenced in the Beenleigh Magistrates Court on eight charges relating to home loan fraud.
Feduniw was convicted and fined $8,500 after admitting she provided documents in support of eight loan applications submitted to Westpac knowing that they contained false or misleading information.
According to ASIC, the applications contained letters which were claimed to be from the applicant's employer. However, Feduniw admitted these letters were false and often the loan applicant had never worked for the particular employer.
In her sentencing, Magistrate Thacker acknowledged Feduniw had cooperated with ASIC, admitted to the offences and entered a plea of guilty at the earliest possible opportunity.
However, Magistrate Thacker rejected the submission that this was a victimless crime, stating: “It’s not a victimless crime when one looks at the necessity to protect the system from being impacted by fraud.”
Home Loans has released a statement regarding the case, saying it has welcomed the conviction and termination of Feduniw.
According to Aussie
, Feduniw’s contract with Aussie
was terminated in April 2014 after serious breaches of the franchise’s “strict code” of conduct and legal, credit and compliance obligations.
investigated discrepancies and false documents in loan applications made by Ms Feduniw and informed the MFAA
, who subsequently terminated her membership of the association,” the statement said.
fully cooperated with ASIC in its investigation and provided supporting documentation and other evidence to assist ASIC in its prosecution.
“We understand that no customers were disadvantaged financially as a result of Ms Feduniw’s actions.
has a zero tolerance policy to any infringements and reports any terminated brokers to ASIC as part of its governance activity.”