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Lawyer sentenced for home loan fraud

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Reporter 3 minute read

A Victoria-based lawyer has been handed a suspended jail term after being found guilty of obtaining home loans using falsified information.

Sole practitioner Kugan Kanagaiyan pleaded guilty at the County Court of Victoria to three charges of obtaining financial advantage by deception and two charges of making and using a false document in applying for home loans from two banks.

Mr Kanagaiyan was found to have created fake payslips and falsely claimed in his applications that he had no dependants.

His offences were committed over a three-year period.

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Judge Allen highlighted that a higher standard of conduct was expected of Mr Kanagaiyan because he was a lawyer, and noted that Mr Kanagaiyan had agreed to surrender his practising certificate.

Mr Kanagaiyan was sentenced to 30 months imprisonment, fully suspended.

This comes after another Victorian lawyer was sentenced to eight years in jail after stealing almost $5 million from his clients by creating false mortgage documents.

Alan Munt was sentenced at the Victorian Supreme Court in April after being convicted in February of creating false mortgage documents and forging signatures to steal $4.8 million from his clients.

[Related: Fraudster linked to home loan scam sentenced]

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