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A Melbourne man has pleaded guilty to participating in a multimillion-dollar home-loan fraud conspiracy.
Mr Aizaz Hassan, 34, of Victoria, has pleaded guilty to one charge of conspiring to defraud financial institutions.
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The charge follows an ASIC investigation into Footscray-based finance broking company, Myra Home Loan Pty Ltd, trading as Myra Financial Services (no longer trading) (Myra).
According to an ASIC statement, the charge relates to Mr Hassan's role at Myra and the creation and use of false documents to support loan applications valued at approximately $110 million.
Mr Hassan entered the guilty plea during an appearance at the Melbourne Magistrates' Court on 9 September 2015, and follows his arrest and charge in January 2015.
Mr Hassan is currently on bail and is required to appear at the County Court at Melbourne on 14 October 2015.
The matter is being prosecuted by the Commonwealth Director of Public Prosecutions.
Mr Hassan's guilty plea relates to conspiring with others, including Mr Najam Shah, to defraud financial institutions through the provision of false documents in support of loan applications submitted on behalf of Myra clients between about March 2008 and August 2010, according to ASIC.
Mr Shah was also arrested in January 2015 and charged with conspiracy to defraud financial institutions.
Mr Shah is currently on bail and will be appearing in the Melbourne Magistrates' Court on 28 September 2015 for a contested committal hearing.
[Related: Mortgage fraud a real threat to brokers]
