Broker handed first NCCP conviction

by Adam Smith25 Jan 2013


A former NSW mortgage broker has been handed the first conviction for contravening the NCCP.
Former broker Daniel Nguyen of Panania pleaded guilty to 10 offences relating to providing false information and documents to lenders to secure home loans totalling more than $3m. Nguyen was handed a two-year good behaviour bond, with the court taking into account his level of cooperation with the ensuing ASIC investigation.
"[Brokers] should know the law, read our guidance and seek additional or external advice if they feel they need it," ASIC commissioner Peter Kell said.


  • by Garry 24/01/2013 3:36:31 PM

    I totally applaud ASIC for taking rubbish brokers out of our industry like this. Keep it up ASIC.....

  • by Curious 24/01/2013 3:39:33 PM

    False information and documents? So basically fraud?

    Did he produce his own payslips?

    Would be nice to get a little more detail so noone else falls into the same trap.

  • by Jo 24/01/2013 3:40:58 PM

    With the importance placed on compliance, this guys only gets a 2 year good behaviour bond?