Two people have appeared in court having been charged with offences including breaking a banning order and providing false documents for home loan applications.
Mrs Shilpa Karandikar was charged with three counts of engaging in credit activities contrary to a four-year ASIC banning order against her.
It is alleged that the Melbourne-based mortgage broker had prepared and submitted home loan applications for three customers in contravention of the banning order made on 10 July 2014.
The original order was made on the basis that Mrs Karandikar had submitted false documents to secure a $243,000 home loan for a customer.
Appearing in a separate hearing, Mr Shrikrishna Karandikar was charged with three counts of giving false documents to NAB, certifying that he had completed customer identification forms in the presence of the home loan applicants, when it is alleged he had not met them.
The home loan applications were submitted to NAB through Mr Karandikar's former mortgage broking business, Siddhi Vinayak Finance Pty Ltd.
ASIC permanently banned Mr and Mrs Karandikar in December 2017 from engaging in credit activities. The basis for the permanent bannings included the continuation of credit activities after the 2014 ban and misleading and deceptive conduct.
The Commonwealth Director of Public Prosecutions is prosecuting these matters. The matter has been adjourned until 5 December 2018.