Far out Friday: Bank hands out $720k home loan to conwoman with fake docs

by Mackenzie McCarty18 Jan 2013

The Australian arm of a global bank handed out a $720,000 home loan without seeing the applicant's driver's licence or checking other documents - which turned out to be fakes - according to News Ltd.

HSBC made the loan to conwoman Rose Marie Lo-Giudice so she could buy a property in Gladesville, Sydney, after she provided a copy of an expired passport, fake payslips and a false deposit certificate from another bank.

The 41-year-old mother has been sentenced to three-and-a-half years' jail after pleading guilty to two charges of dishonestly obtaining financial advantage by deception and one of using a false document by deception.

When Lo-Giudice applied for the ‘Premier Residential’ loan she told a mortgage specialist she had ‘left her wallet at work’.

The staffer told her she could bring her identification in at a later date.

Two weeks later, Lo-Giudice returned to the bank with a certified copy of an expired passport, which had been altered to look valid. She also provided a fake Bendigo Bank term deposit certificate and doctored pay slips from her employer, Allianz Australia.

Lo-Giudice provided the bank with a contract for the sale of the property and HSBC issued a letter of offer to her for the loan, which she signed on December 14, 2010. She defaulted on the mortgage four months later.

A "subsequent investigation" revealed the documents supplied by Lo-Giudice were fraudulent. The Bendigo Bank account number had never existed and the payslips were fake.

 

 

COMMENTS

  • by Compliance 18/01/2013 9:45:14 AM

    This is why all Brokers MUST sight the original of ALL documents that support the application. This for your own protection

  • by sidbroker 18/01/2013 11:58:46 AM

    I don`t get this one. Why would this woman do this to get the loan knowing she would default. That just defies logic. I wonder if she would have gotten away with this application had she gone through a broker. I would suspect not. Had she gone through a broker in the first place and been told to wake up to herself she would not be going to jail. Brokers should be used at all times by the public it would seem!!!

  • by mortgage road warrior 18/01/2013 2:32:50 PM

    near enoughs good enough in branch land . They are no where near under the same compliance regime as Brokers . But as a Broker , I'm more than happy for the Banks to keep employing half arsed, 20 year old , inexperienced Personal Bankers . It makes my role very easy