A South Australian mortgage broker appeared in the Adelaide Magistrates Court today charged with five counts of providing false or misleading information to secure home loans totalling more than $500,000.
ASIC alleges Daniel Duy Anh Nguyen, of Woodville North, South Australia, provided the information to Westpac. The information related to a sale contract and rental appraisal letters provided in support of home loan applications on behalf of five of his clients.
The regulator claims the conduct occurred between October 2011 and February 2012 when Nguyen operated a finance broking business called Arndale Finance at Woodville North.
If convicted, each offence carries a maximum penalty of two years imprisonment or a fine of $11,000 or both.
The Commonwealth Director of Public Prosecutions is prosecuting the matter, which returns to Court on 1 November 2013.
Nguyen is the sole director and credit representative of Ausfin Solutions Pty Ltd (Ausfin), an Australian credit licence holder. Ausfin traded as Arndale Finance.
His conduct was brought to ASIC’s attention by Westpac, which has assisted with ASIC's investigation.