A former Sydney-based mortgage and finance broker has pleaded guilty to six charges of making false statements and providing false documents to lenders.
Appearing before the Downing Centre Local Court in Sydney, Hee Seng Lee of A&H Mortgage Group – trading as H Lee’s Finance and Loan Care & Co – pleaded guilty to the falsified loan applications totalling $7.5 million.
According to an ASIC communication, “the 12 applications related to loans ranging from $160,000 to $1.5 million and included applications that were in his name”.
“The false statements related to the income and/or employment of the applicant and the false documents included payslips, taxation returns and notices of assessment purportedly issued by the Australian Tax Office,” the document said.
Mr Lee had his Australian Credit Licence cancelled in January 2012.
A parliamentary inquiry has come up empty after pushing super funds for information on members’ home ownership, while questions have been raised aro...
ASIC’s court action against a major industry fund is the tip of the iceberg when it comes to funds in the space actively discouraging members from r...
Managed accounts have seen explosive growth in the advice sector over the past 12 months, as COVID-related volatility created new investment implement...
Get notifications in real time and stay up to date with content that matters to you.
