ASIC has permanently banned Ms Almaza Souzie Boutros, of Merrylands, NSW, from engaging in credit activities after being convicted of a serious fraud offence. ASIC has also cancelled the Australian credit licence issued to Option 1 Mortgage Pty Ltd (Option 1 Mortgage), of which Ms Boutros is a director, on the grounds that Option 1 is in liquidation.

Ms Boutros' conduct as a director of Option 1 Mortgage resulted in a conviction for fraud in April 2012. Fairfield Local Court ordered Ms Boutros to pay compensation and placed her on a good behaviour bond for a period of 18 months.

Ms Boutros and Option 1 Mortgage have the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decisions.