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Friday 10 November 2017

17-380MR Melbourne man charged over role in loan fraud conspiracy

A Melbourne man, Mr Andrew Cameron, appeared before the Melbourne Magistrates' Court today charged with one count of the common law offence of conspiracy to defraud, following an ASIC investigation. 

ASIC alleges that Mr Cameron conspired with others to defraud his employer, the Commonwealth Bank of Australia (CBA), by providing false documents and information in support of home loan applications. The charges are linked to the hundred-million dollar loan fraud conspiracy uncovered by ASIC's investigation into Myra Home Loans (17-337MR).

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.

Mr Cameron was not required to enter a plea and was bailed to appear before the Magistrates' Court at Melbourne on 2 February 2018.

The matter is being prosecuted by the Commonwealth Director of Public Prosecutions.

Editor's note 1:

On 2 February 2018, Mr Cameron appeared before the Magistrates' Court at Melbourne for a committal mention. The matter was adjourned for a committal mention hearing on 19 March 2018. The Magistrate extended Mr Cameron's bail to that date on the same terms and conditions.

Editor's note 2:

On 27 March 2018 Mr Cameron appeared before the Magistrates' Court at Melbourne for a committal mention. The matter was adjourned for a committal hearing commencing on 1 October 2018. The Magistrate extended Mr Cameron's bail to that date on the same terms and conditions.

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Last updated: 27/03/2018 05:24