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Newcastle broker sentenced for lo doc fraud

Staff Reporter 1 minute read

Mark Shalimov, director of investment company Future Management Group Limited (FMG), was convicted by the Sydney District Court on Friday November 23 on two counts of fraud for the arrangement of a lo doc loan for an unemployed Newcastle woman.

Mark Shalimov, director of investment company Future Management Group Limited (FMG), was convicted by the Sydney District Court on Friday November 23 on two counts of fraud for the arrangement of a lo doc loan for an unemployed Newcastle woman.

The application falsely stated that the unemployed woman worked as an accountant/ consultant receiving a $101,000 gross salary in February, 2003.

Shalimov is automatically disqualified from managing corporations for five years and serves concurrent two-year good behaviour bonds on each count.

 

Newcastle broker sentenced for lo doc fraud
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