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Man arrested for $3m mortgage fraud

Staff Reporter 1 minute read

A Sydney man has been arrested and refused bail for fraud offences of almost $3 million, the NSW Police Force revealed today.

According to the police the 33 year old man from Cronulla in Sydney’s south has been charged with eight offences relating to mortgage fraud, including attempt to pervert the course of justice, for attempting to coerce a victim into writing a retraction statement.

The police allege that the man offered clients fake business opportunities in order to borrow money from them, which he then purported to secure against property. They said he would obtain the funds as part of the business deal and then fail to repay the money.

The arrest follows three years of investigation, the police said.

The man will appear in Waverley Local Court today.

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Man arrested for $3m mortgage fraud
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