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A Geelong mortgage broker will spend at least one year in jail after his appeal was denied by the Victorian Court of Appeal on Thursday last week, according to the Geelong Advertiser.
Ronald William Wynhoven, director of Seed Home Loans, was found guilty in February of five counts of attempting to obtain a financial advantage by deception and three counts of obtaining a financial advantage by deception.
The misconduct saw Mr Wynhoven raise around $1.2 million at the expense of 13 investors.
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A bid to overturn the conviction was denied on Thursday, the paper reported, with Mr Wynhoven ordered to serve one year of a three year sentence with the remaining two to be suspended for two years.
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