A former mobile lender for the Commonwealth Bank of Australia is to stand trial for conspiracy to defraud the bank, after allegedly providing false documentation for loans totalling more than $36 million.
Melbourne man Andrew Cameron is committed to stand trial for one count of the common law offence of conspiracy to defraud, after a five-day committal hearing in the Melbourne Magistrates’ Court, which concluded last week (5 October 2018).
The Australian Securities and Investments Commission has alleged that Mr Cameron conspired with others to defraud the big four bank by providing false documents and information in support of home loan applications.
ASIC alleges that the conspiracy involved approximately 121 loan applications and resulted in the CBA lending approximately $36,420,040.00.
The maximum penalty for the offence is 15 years’ imprisonment.
The trial will be held in the County Court of Victoria. A date has not yet been fixed, but the next directions hearing is on 26 October 2018.
Mr Cameron has entered a plea of not guilty and remains on bail.
More to come.
[Related: Ex-CBA employee charged for role in $36m ‘fraud conspiracy’]
Mark Hewitt, general manager, industry and partnership development at Australian Finance Group (AFG) will commence as...
Following its launch of an early commission payment product to brokers using the effi platform, cash-flow solutions...
According to Grow Finance (Grow), David Keeling’s appointment, which commenced on 11 April, is part of a broader...
Most Talked About
Major bank CEO backs fees-for-service model
by Charbel KadibShadow treasurer says government has ‘got it wrong’ on trail
by Annie KaneOpen letter to CBA CEO Matt Comyn
by ReporterTreasury: Trail to be banned next year
by Annie KaneRemove trail, says final Productivity Commission report
by Reporter