Mortgage broker faces drug dealing charges

by Miklos Bolza05 Jan 2017
A Sydney-based mortgage broker has faced court after being been accused of organising 63 drug deals during the holiday season.
 
Police claim self-employed broker Michael Geering sold cocaine both from his apartment in Coogee and by driving out to meet customers. He used the code word ‘beer’ in his texts, reported The Daily Telegraph.
 
One court document alleges that a customer sent a text saying, “Please mate. I promised them some beers at our Christmas lunch”.
 
Geering spent New Year’s Eve in custody and appeared via video at Parramatta bail court on Tuesday (3 January). He faced five charges including supplying a prohibited drug and knowingly dealing with the proceeds of crime with police alleging he sold 107 grams of cocaine between 8 and 29 December.
 
On searching his Coogee apartment, police also claim they found several mobile phones, scales, small clip-seal bags and over $42,000 in cash.
 
Investigations “established that the accused had a significant client base through the eastern suburbs and greater Sydney metro,” police said.
 
Barrister Ben Clark told the court that Geering intended to plead not guilty. His work as a self-employed mortgage broker plus his partner’s position as a publicist meant they “had access to money”.
 
“I have been instructed they will be able to show that money came from lawful means,” Clark said.
 
Magistrate Ian McRae granted Geering bail with a “degree of reservation”. The case has been adjourned until later this month.
 
Related stories:
 
Convicted drug money launderer banned from mortgage industry
 
A.S.I.C. blasted for “character assassination”
 
Supreme court casts out property spruikers' appeal